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Military Lending Act National Defense Authorization Act

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National Defense Authorization Act amends SCRA to restrict use of arbitration agreements and waivers of SCRA protections

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In addition to amendments to the Fair Credit Reporting Act dealing with the reporting of adverse information on servicemembers by consumer reporting agencies, the National Defense Authorization Act (NDAA) as passed by the...more

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Dept. of Defense issues report to Congress on Military Lending Act rate cap

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The Department of Defense (DoD) has issued a report to the House Committee on Armed Services regarding the impact of a Military Annual Percentage Rate (MAPR) cap lower than 30% on military readiness and servicemember...more

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Proposed MLA expansion cleared to move forward

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Last week, the House Armed Services Committee removed language from the draft Fiscal Year 2016 National Defense Authorization Act that would have delayed the finalization of rules proposed by the Department of Defense that...more

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Proposed MLA expansion in limbo

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Despite the CFPB’s efforts to build support for the Department of Defense’s proposal to significantly expand Military Loan Act coverage, it now appears that the proposal may be put on hold. The DoD proposal would revise the...more

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Rule Expanding Military Lending Act Protections In Limbo

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The Department of Defense's (DoD) proposed rule to revise and expand the coverage of its rule implementing the Military Lending Act (MLA) may be put on hold. The House Committee on Armed Services Subcommittee for Military...more

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Congress passes bill giving CFPB authority to enforce Military Lending Act and creating civil liability for violations

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The 2013 Defense Authorization Bill (H.R. 4310), currently awaiting signature by President Obama, makes several changes to the Military Lending Act. Last week, both the House and Senate agreed to the conference report....more

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