WASHINGTON, D.C. –(ENEWSPF)–July 21, 2015. Today, the U.S. Department of Defense issued a final rule expanding the types of credit products that are covered by the 36-percent rate cap and other military-specific protections under the Military Lending Act. The rule closes loopholes that have led to lenders skirting the law with products that fall outside the scope of the existing regulation.
Consumer Financial Protection Bureau Director Richard Cordray issued the following statement:
“I congratulate Secretary…
