New Proposed Rules on Military Lending
MAPR? Oh, boy! New terms and acronyms to learn, questions to ponder, a comment letter to write!
The Department of Defense has issued proposed rules to implement the provisions on lending to service members and their families contained in the 2007 John Warner National Defense Authorization Act. Now is the time for lending institutions to get on top of what's being proposed and make their voices heard in the comment process. Learn about "Military APR" and more. The BankersOnline staff breaks it all down for you -- from the background and objectives to the definitions, requirements, disclosures, and limitations -- in our detailed summary of the lengthy proposal.
Within the proposal, the DoD sets forth a large number of questions it specifically wants commenters to answer or provide feedback on. We've compiled them (and in some cases paraphrased them) to give you a roadmap for drafting your comment letter.
Plus, on our summary page, you'll also find links to the underlying Public Law, related articles, and previously filed comments.
Finding the Rule
Here are links to the published proposal in the April 11, 2007, issue of the Federal Register. TXT; PDF
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