Trump management intends to End Military Lending Act Prohibition on Offering GAP Insurance to Service Members in Auto Loan Transactions
NPR reported week that is last the Trump Administration is about to end the present prohibition underneath the Military Lending Act (“MLA”) against creditors providing service people GAP insurance coverage relating to credit designed to fund the acquisition of automobiles. Present interpretive guidance concerning the Department of Defense’s regulations applying the MLA forbids creditors from …
New york adopts requirements that are new car or truck dealers
This new York City Department of customer Affairs (DCA) has used brand brand new rules for car or truck dealers, requiring all certified dealers to help make extra disclosures to customers and producing a new customer bill of legal rights when it comes to industry. The rules that are new into influence on June 24, 2018.
Underneath the rules that are new dealers must make provision for …
Proposed bill would expand MLA disclosure significantly needs
We recently reported on a bill introduced into the House of Representatives by Congressman Dan Kildee (D-Michigan) that will amend the Military Lending Act (“MLA”) to require that creditors offer extra disclosures to covered users of the military and their loved ones.