Dismissed MLA case against United Auto Credit provides brief respite for auto lenders

Any appeal is due to the court by June 18

Photographer: Jay Paul/Bloomberg News

A recently dismissed case in the Eastern District Court of Virginia against subprime lender United Auto Credit has provided a brief respite to the auto finance industry even as there is a movement to try to incorporate federal Military Lending Act (MLA) guidance to auto loans. Under current regulations, retail installment contracts and auto loans […]

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