Browsing: Military Lending Act

Compliance and Risk

In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.


ABA and six other financial trade groups wrote to the Department of Defense on Friday urging the department to take additional steps to clarify inconsistencies and confusion that still surround the amended Military Lending Act rules and a subsequent interpretive rule issued by DOD.

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