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Disclosing the Military APR

Question: 
Do we have to disclose the actual MAPR to all borrowers?
Answer: 

No. The MAPR was disclosed on loans subject to the old Military Lending Act rules. Under the new MLA rules that became effective in October 2016, you don’t disclose the number at all, but you still need to compute it.
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Learn more about Andy Zavoina’s webinar Military Lending – Banks Keep Getting it Wrong

First published on 11/26/2017

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