32 CFR 232.8 - Limitations
| Cite as | 32 CFR 232.8 |
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10 practice notes
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Arbitration Agreements
...on Terms of Consumer Credit Extended to Service Members and Dependents, 72 FR 50580 (Aug. 31, 2007) (codified at 32 CFR 232). \121\ See 32 CFR 232.8(c). Creditors must comply with the requirements of the rule for transactions or accounts established or consummated on or after October 3, 201......
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Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents
...(exceptions from definition of ‘‘consumer credit’’ for purposes of the MLA). 1810 U.S.C. 987(b); 32 CFR 232.4(c). 1910 U.S.C. 987(e); 32 CFR 232.8. 2010 U.S.C. 987(c); 32 CFR 232.6. 2110 U.S.C. 987(f)(3). 2232 CFR 232.9(c). 2310 U.S.C. 987(f)(1). 24Public Law 112–239, sec. 662(b), 126 Stat.......
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Limitations on Terms of Consumer Credit Extended to Service Members and Dependents
...ambiguity in the more- favorable-terms standard. --------------------------------------------------------------------------- \252\ 32 CFR 232.8(a)(1). \253\ 72 FR Section 232.8(a) tracks the language of the rollover restriction of 10 U.S.C. 987(e)(1),\254\ and, consistent with this provisio......
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Limitations on Terms of Consumer Credit Extended to Service Members and Dependents
...ambiguity in the more-favorable-terms standard. --------------------------------------------------------------------------- \159\ 32 CFR 232.8(a)(1). \160\ 72 FR at Proposed Sec. 232.8(a) would track the language of the refinancing prohibition of 10 U.S.C. 987(e)(1),\161\ but would limit th......
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1 cases
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Davidson v. United Auto Credit Corp., 1:20-cv-1263 (LMB/JFA)
...In withdrawing the amended Q&A #2, published on December 14, 2017, because of unforeseen technical issues between the amended Q&A #2 and 32 CFR 232.8(f), the Department, absent of additional analysis, takes no position on any of the arguments or assertions advanced as a basis for withdrawin......
3 firm's commentaries
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CFPB files complaint against online lender alleging MLA violations
...a prohibition against requiring arbitration, and mandatory loan disclosures. 10 U.S.C. § 987(b), (c), (e)(3); 32 C.F.R. §§ 232.4(b), 232.6, 232.8(c). The complaint alleges violations of these MLA limits and requirements. As detailed in the complaint, the Bureau alleges that the monthly memb......
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CFPB and FTC file amicus brief regarding servicemembers’ right to sue under the Military Lending Act
...a prohibition against requiring arbitration, and mandatory loan disclosures. 10 U.S.C. § 987(b), (c), (e)(3); 32 C.F.R. §§ 232.4(b), 232.6, 232.8(c). In their class action complaint filed in the U.S. District Court for the Southern District of Florida, the plaintiffs alleged that the defend......
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Military Lending Act And Servicemembers Civil Relief Act: Important Updates
...Fed. Reg. 50,580 - 82 (Aug. 31, 2007). 32 C.F.R. § 232.4(b). MAPR is calculated in accordance with 32 C.F.R. § 232.4(c). 32 C.F.R. §§ 232.6, 232.8(c). 32 C.F.R. § National Defense Authorization Act for Fiscal Year 2018, H.R. 2810, 115th Congress, § 557 (2017). Military Lending Act Limitatio......