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DOD/OS RIN: 0790-AJ10 Publication ID: Spring 2015 
Title: Limitations on Terms of Consumer Credit Extended to Service Members and Dependents 

The Department of Defense ("Department") is amending its regulation that implements the Military Lending Act, herein referred to as the "MLA." Among other protections for servicemembers, the MLA limits the amount of interest that a creditor may charge on "consumer credit" to a maximum annual percentage rate of 36 percent. The Department is amending its existing regulation primarily for the purpose of extending the protections of the MLA to a broader range of closed-end and open-end credit products, rather than the limited credit products currently defined as consumer credit. In addition, the Department is amending its existing regulation to amend the provisions governing a tool a creditor may use in assessing whether a consumer is a "covered borrower," modify the disclosures that a creditor must provide to a covered borrower, implement the enforcement provisions of the MLA, as amended, and for other purposes. The revisions to this rule are part of DoD's retrospective plan under Executive Order 13563 completed in August 2011. DoD's full plan can be accessed at:

Agency: Department of Defense(DOD)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 32 CFR 232   
Legal Authority: 10 U.S.C. 987   
Legal Deadline:  None
Action Date FR Cite
ANPRM  06/17/2013  78 FR 36134   
ANPRM Comment Period End  08/01/2013 
NPRM  09/29/2014  79 FR 58601   
NPRM Comment Period End  11/28/2014 
Final Rule  05/00/2015 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: Yes 
RIN Data Printed in the FR: No 
Agency Contact:
Marcus Beauregard
Department of Defense
Office of the Secretary
4000 Defense Pentagon,
Washington, DC 20301-4000
Phone:571 372-5357