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Automotive Loans Exemptions

Hudson Cook, LLP

Fourth Circuit Takes Expansive View of MLA Auto-Loan Exemption

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In a decision highly anticipated by the auto finance industry, a federal appeals court recently held that auto loans remain exempt from the Military Lending Act even when they finance related costs or services beyond the...more

Hudson Cook, LLP

Don't Forget About the Military Lending Act

Hudson Cook, LLP on

Until December 2017, the auto industry operated under the understanding that the federal Military Lending Act's (MLA) exclusion from coverage for credit transactions "expressly intended to finance the purchase of a motor...more

Ballard Spahr LLP

Industry continues efforts seeking withdrawal of Department of Defense MLA interpretation on GAP insurance financing

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Early last year, several trade groups, including the National Automotive Dealers Association (NADA), sent letters petitioning the Department of Defense (DoD) to rescind or withdraw Question and Answer #2 (Q&A 2) from its 2016...more

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