[20181031]IN10988_军事借贷法：规则、执行和服务会员财务稳定性.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Military Lending Act: Rules, Enforcement, and Servicemember Financial Stability ,name redacted, Analyst in Military Manpower Updated October 31, 2018 The Military Lending Act (MLA, 10 U.S.C. 987) regulates commercial lending practices and products offered to military servicemembers and their dependents. The Department of Defense (DOD) implements the provisions of this act and the Consumer Financial Protection Bureau (CFPB) oversees and enforces consumer protection laws and regulations. Some have argued that Military Lending Act rules place undue regulatory burdens on businesses that provide credit products. Others have argued that these rules provide important servicemember protections from abusive financial practices and, in turn, have a positive impact on military readiness. Legislative Timeline and Existing Rules The MLA was enacted by the National Defense Authorization Act (NDAA) for Fiscal Year (FY) 2007. The impetus for the law was a perceived need to protect military personnel from certain predatory lending practices. These are defined by Congress as “an unfair or abusive loan or credit sale transa