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#2246149 - 12/03/20 11:35 PM MLA- Applicable to Auto Leases?
Permissible Purpose Offline
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Joined: Sep 2017
Posts: 55
Hello all,

Quick question- is the MLA applicable to auto leases?

I am assuming yes so long as the lease contains a finance charge, has more than 4 installments, and has an applicable purpose. An auto lease seems to fit the criteria listed within the definition of "consumer credit" and does not meet the exceptions listed 232.2(2)(i) through (iv).

Thoughts are greatly appreciated!

Thanks!

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#2246192 - 12/04/20 07:09 PM Re: MLA- Applicable to Auto Leases? Permissible Purpose
Andy_Z Offline
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Joined: Oct 2000
Posts: 27,193
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Leases are not covered under the MLA. It includes credit and Reg Z type products. Consumer leases are under Reg M.

The MLA does not include residential or vehicle leases. The SCRA can, but there is no MLA requirements here.
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