Answer:
The term MAPR stands for Military Annual Percentage Rate. The Military APR differs from the Reg Z APR. The components of the MAPR are more inclusive and this causes the MAPR to be higher than the APR. One example is an application fee. Reg Z’s APR calculation excludes this fee, but the MAPR includes it. And this measures your federal usury limit of 36 percent. You don’t disclose the MAPR numerically, but you must know it’s compliannt.
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Learn more about Andy Zavoina’s Attention - Military Lending Problems webinar.
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