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Military Lending Act Banks Military Service Members

Orrick, Herrington & Sutcliffe LLP

District Court says MLA’s statute of limitations begins upon discovery of facts

The U.S. District Court for the Eastern District of Virginia recently granted an installment lender’s motion to dismiss, ruling that most of the class members’ claims are time-barred by the Military Lending Act’s (MLA)...more

Ballard Spahr LLP

Holly Petraeus to retire from CFPB

Ballard Spahr LLP on

According to Politico, Holly Petraeus, Assistant Director of the CFPB’s Office of Servicemember Affairs, will be retiring from the CFPB. During her tenure at the CFPB, the protection of military servicemembers and their...more

Ballard Spahr LLP

ABA criticizes CFPB study on high-cost credit extended to servicemembers

Ballard Spahr LLP on

The American Bankers Association has sent a letter to the Department of Defense “to alert the Department to shortcomings” in the CFPB’s study entitled “The extension of high-cost credit to servicemembers and their families”...more

Ballard Spahr LLP

CFPB endorses MLA expansion

Ballard Spahr LLP on

In an effort to build support for the Department of Defense’s proposal to significantly expand Military Loan Act coverage, the CFPB has released a report entitled “The extension of high-cost credit to servicemembers and their...more

Morrison & Foerster LLP

DOD Proposes Significant Expansion of Military Lending Act Protections

On September 29, 2014, the Department of Defense (DOD) published a proposed rule in the Federal Register to amend its regulation implementing the Military Lending Act (MLA), 32 C.F.R. Part 232, to significantly expand the...more

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