Military Lending Act revision permits GAP financing | Auto Finance News | Auto Finance News

Military Lending Act revision permits GAP financing

© Can Stock Photo / jukree

The Department of Defense last week withdrew a provision to the Military Lending Act (MLA) that prevented adding guaranteed asset protection (GAP) warranties to vehicle loans for servicemembers. The move was celebrated by industry organizations as the liability for both lenders and borrowers decreased with the change, John Redding, a partner at Buckley LLP, told Auto Finance News. In […]

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