I noticed the CFPB’s website lists only three types of covered loans under the Military Lending Act. Are there any others that are not referenced? Or do they actually list all scenarios in which MLA would be applicable?
As the law stands currently, this is accurate--but that won't be the case for long. Beginning October 3, 2016, the MLA will expand to cover all types of consumer credit covered by Regulation Z, with just a few notable exceptions, including: residential mortgages (loans secured by a dwelling), credit to finance the purchase of personal property including car purchases, and car lease loans.
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