Thirty-three state attorneys general ("AGs") urged the Consumer Financial Protection Bureau ("CFPB") to reconsider a reported decision to discontinue reviewing lenders' compliance with the Military Lending Act ("MLA") as part of its examinations. The MLA protects military service members from financial exploitation against predatory lenders.
The AGs disagreed with reports indicating that the CFPB has determined it needs more statutory authority to conduct examinations for MLA violations.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
