CFPB Resumes Examination of MLA Issues
The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that justifies its decision to resume its examination for Military Lending Act issues at regulated financial institutions. During the last administration, the CFPB stepped back from Military Lending Act examinations, as this law was not among the enumerated consumer financial protection laws that the CFPB was authorized to enforce when the CFPB was established.
AFSA will continue to communicate and emphasize the important role access to high-quality, safe consumer credit plays in the lives of servicemembers, their families and all Americans.
June 16th, 2021
