4th Circuit affirms GAP inclusion does not nullify auto loan exemption from MLA
A 4th Circuit Court of Appeals decision on Wednesday affirmed a lower court’s finding that the inclusion of guaranteed asset ...
Tag: Military Lending Act
Mitigating reputational risk amid resumed MLA examinations by the CFPB
Auto lenders may need to review their compliance to the Military Lending Act (MLA) to avoid reputational risks, fines or ...
Consumer Financial Protection Bureau resumes MLA oversight
The Consumer Financial Protection Bureau (CFPB) announced yesterday an interpretive rule asserting its authority to regulate financial institutions for conduct that infringes on the ...
Dismissed MLA case against United Auto Credit provides brief respite for auto lenders
A recently dismissed case in the Eastern District Court of Virginia against subprime lender United Auto Credit has provided a ...
Military Lending Act revision permits GAP financing
The Department of Defense last week withdrew a provision to the Military Lending Act (MLA) that prevented adding guaranteed asset protection (GAP) ...
DOD grants joint NADA/AFSA petition to withdraw Q&A 2 from 2017 MLA interpretive rule
The U.S. Department of Defense (DOD) has granted a joint petition filed by the National Automobile Dealers Association (NADA) and the American ...
Predicting the top compliance issues for 2020
Wow, 2019 has blown by, and we now turn our sights to 2020 — a new decade. Building on my ...
CFPB Broadens Scope of Financial Education Tool
The Consumer Financial Protection Bureau expanded the audience of its virtual financial education tool, called Misadventures in Money Management, to ...
