Protecting Your Family
Military Money and H&R Block are joining forces to inform servicemembers of new regulations that combat predatory lending practices often targeted at military families. The law, commonly known as the Military Lending Act, affects payday loans, vehicle title loans and tax refund anticipation loans, and places specific requirements and limitations on loans to “covered borrowers” – that is, servicemembers and their dependents.
Learn how these new rules may impact you and your family:
Military Money Featured Interview
Ken Treat, Senior Vice President for Field Management at H&R Block, discusses the Military Lending Act with Military Money.
Military Lending Act: What You Need To Know (pdf)
H&R Block produced this informative brochure to answer your basic questions.
Fighting Back! New Law Protects Families From Loan-Shark Lenders
This Military Money article summarizes the law and shows where to get help in a cash crunch.
Predatory Lending FAQ
The Department of Defense issued this comprehensive list of frequently asked questions.
Predatory Lending Communications Products
The Department of Defense issued this overview of the new rules and their impact on predatory lending products.
Federal Register (pdf)
This is the complete description of the new regulations plus background information, issued in the U.S. government’s Federal Register.
Sample Declaration Statement
Lenders offering loans affected by the Military Lending Act may ask loan applicants to sign a declaration statement.
