Sen. Jim Talent on Thursday renewed his push for legislation to stop payday loan companies from targeting military personnel.

 The Missouri Republican wants Congress to approve a 36 percent annual percentage rate cap on payday loans to service members and their spouses. He said payday lenders, which offer quick cash advances at high interest rates, take advantage of soldiers through deceptive marketing.

Talent's measure imposing the interest rate cap passed the Senate earlier this year as part of a massive defense bill, but it was not included in a House-passed version. Talent collected signatures this week from 31 senators asking a conference committee to leave the rate cap in a final version of the bill.

"While it would be great if every 18- 19- and 20-year-old was sophisticated enough in financial matters to avoid these scams, the reality is there are some things only experience can teach you," Talent said at a news conference. "We ought to protect them until they have the experience in life to protect themselves."