Search results with tag "Military lending act"
What is the Military Lending Act and what are my rights?
files.consumerfinance.govThe Military Lending Act (MLA) is a Federal law that provides special protections for active duty servicemembers like capping interest rates on many loan products. What are my rights under the MLA? Answer: The MLA applies to active duty servicemembers (including those on active Guard or active Reserve duty), spouses, and certain dependents.
V. Lending — Military Lending Act
www.fdic.govis a consumer who, at the time the consumer becomes obligated on a consumer credit transaction or establishes an account for consumer credit, is a covered member of the armed forces or a dependent of a covered member (as defined in 32 CFR 232.3(g)(2) and (g)(3)). Covered members of the armed forces include members of
Complying with Recent Changes to the Military …
www.ncua.govEnclosure to Regulatory Alert 16-RA-04 1 Complying with Recent Changes to the Military Lending Act Regulation If your credit union provides consumer credit to active duty Service members, their
Military Lending Act—
files.consumerfinance.govMilitary Lending Act — Applicability flow chart (continued) Was the borrower on active duty or a dependent of an active duty servicemember at the date of the transaction or opening of the account? The MLA only applies to covered borrowers, defined as active duty servicemembers and their covered dependents. The MLA also
Military Lending Act - Check Your Credit Report & FICO® …
www.experian.comThe DMDC database identifies individuals who meet one of the following criteria: • Is on active duty • Regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast