2015 Military Lending Act (MLA) Final Rule for Service Members – DoD Regulation

Compliance > Lending > Service Members > Military Lending Act
Q:   What Department of Defense regulation implements the 2015 MLA rule?
A:   The Department of Defense regulation which implements the MLA is 32 CFR 232.  This regulation imposes limitations on the costs and terms of certain extensions of credit to service members and their dependents, and to provide additional protections relating to such transactions in accordance with 10 USC 987.

ADDITIONAL INFORMATION:  See details in the Department of Defense’s 2015 Final Rule on “Limitations on Terms of Consumer Credit Extended to Service Members and Dependents,” here:  https://www.federalregister.gov/articles/2015/07/22/2015-17480/limitations-on-terms-of-consumer-credit-extended-to-service-members-and-dependents

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