Section 232.6 of the Military Lending Act states we must provide mandatory loan disclosures to a covered borrower:

1. A statement of the MAPR applicable to the extension of consumer credit
2. Any disclosure required by Reg Z
3. A clear description of the payment obligation

If we have a loan with several covered borrowers, do we give the disclosures 1 and 2 above to all obligated on the loan or do we give only to the primary applicant?

It would be logical to assume that following Reg Z the disclosures need not go to each consumer, but I don't recall the MLA defining this. Hopefully it will be clarified in the upcoming guidance document.

Andy,
Thank you for responding.