Overview
The Military Lending Act caps finance charges at 36 per cent and adds other customer defenses for solution people and their dependents. Regulations’s bank card provisions kicked in Oct. 3, 2017
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Federal Military Lending Act charge card guidelines that took impact Oct. 3, 2017, limit finance costs and include customer defenses for solution people and their dependents.
The exact same defenses went into impact last year for solution users whom submit an application for pay day loans, automobile name loans, reimbursement expectation loans, deposit advance loans, installment loans and unsecured credit lines. Read more
