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Truth in Lending Act (TILA) Military Annual Percentage Rates (MAPR)

Ballard Spahr LLP

FTC and 18 state attorneys general settle action against national retail chain accused of unlawful practices targeting...

Ballard Spahr LLP on

On July 20, 2022, the Federal Trade Commission (“FTC”) and 18 state attorneys general led by New York Attorney General Letitia James announced that they have entered into a settlement with Harris Originals of NY, Inc. and...more

Bradley Arant Boult Cummings LLP

Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to Credit

Last week, Illinois enacted the “Predatory Loan Prevention Act” (SB 1792), which would place a 36% rate cap on nearly all non-bank consumer loans. This act will essentially outlaw small-dollar loans in Illinois and may make...more

Manatt, Phelps & Phillips, LLP

DoD Publishes Guidance on MLA Amendments

With the July 2015 amendments to the Military Lending Act (MLA) set to take effect on October 3, the Department of Defense (DoD) published an interpretive rule to help financial institutions achieve compliance with the...more

Ballard Spahr LLP

DoD issues MLA interpretive rule

Ballard Spahr LLP on

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The much-anticipated guidance was...more

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