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Posted On January 28, 2021 In Investigation With 31 Views

Military Lending Act back into the fundamentals

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Military Lending Act back into the fundamentals

Overview of the way the MLA Final Rule expands the law’s conditions.

The amended MLA Final Rule, issued in 2015, applies to all consumer credit that’s subject to a finance charge or is payable by a written agreement in more than four installments while the initial Military Lending Act (MLA) applied only to payday loans, vehicle title loans, and tax refund anticipation loans.

Samples of closed-end loans which may be included in the guideline include:

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