https://www.congress.gov/bill/115th-congress/senate-bill/3334

Just a bill at this point, but watch out...

Highlights, or low lights as the case may be:
- Reduce the interest rate cap under the MLA from 36 percent to 24 percent.
- Extend coverage of the MLA to veterans for up to one year following discharge from active duty.
- Expand coverage of the MLA to credit intended to finance the purchase of motor vehicles and other personal property.
- Amend the FDCPA to prohibit debt collectors from “communicat[ing], in connection with the collection of any debt, with the commanding officer or officer in charge of any covered member, including for the purpose of acquiring location information about the covered member.”
- Prohibit debt collectors from threatening that failure to cooperate with a debt collector will result in prosecution under the Uniform Code of Military Justice.
- Prohibit creditors from requiring installation of GPS trackers or kill switches in motor vehicles as a condition of extending credit to service members.
- Require the Department of Defense to assess whether creditors downloading bulk data from the MLA database are using adequate safeguards to prevent data breaches and other potential misuse of downloaded data.

Interesting, given that other news reports suggest the Trump administration is pressuring Defense to reinterpret the MLA to allow additions such as GAP coverage to an auto loan and otherwise tweak the regulation to favor lenders a bit more.

I could be a one mans dream bill. It was already tried once and didn't make it. The GAP issue we heard was under consideration 8 months or so ago. I just want folks to be aware it exists.

Thanks for posting Andy.