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Tag Archives: Military Lending Act (MLA)

EVENT: DOD’s Expanded Military Lending Act Rules

Posted in Credit Cards, Events, Fair Lending, Military Issues

Thursday, September 3, 2015 2:00 p.m. – 3:00 p.m. EDT Please email cbaker@mofo.com to register for this teleconference. On July 22, 2015, the Department of Defense (DOD) published new rules broadening the scope of current rules implementing the Military Lending Act (MLA). The amended rules significantly expand the scope of the MLA provisions by covering… Read More

Department of Defense Adopts Significant Changes to Its Military Lending Act Regulations

Posted in Credit Cards, Fair Lending, Military Issues

On July 22, 2015, the Department of Defense (DOD) published sweeping changes to its rules that implement the Military Lending Act (MLA). The amended rules significantly expand the scope of the MLA provisions by covering both new types of creditors and new credit products, including installment loans and other closed-end credit products and credit cards… Read More

DOD Adopts Sweeping Changes to Rules Implementing Military Lending Act Provisions

Posted in Credit Cards, Fair Lending, Military Issues

On July 21, 2015, the Department of Defense (DOD) adopted sweeping changes to its rules that implement the Military Lending Act (MLA). The amended rules significantly expand the scope of the MLA provisions by covering both new types of creditors and new credit products, including credit cards. The new rule becomes effective on October 1,… Read More

CFPB Weighs in on Department of Defense Military Lending Act Proposed Rule

Posted in CFPB, Military Issues

On December 29, 2014, the Consumer Financial Protection Bureau (CFPB) released a report, entitled “The Extension of High-Cost Credit to Servicemembers and Their Families” (“Report”). According to the CFPB, the Report provides a “snapshot” of the market for “high-cost credit products” that are not currently covered by the Military Lending Act (MLA).   The CFPB released… Read More