S. 3334 · 115th Congress
Military Lending Improvement Act of 2018
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
NelsonSponsorNo cosponsors.
This bill revises consumer credit protections for active members of the U.S. Armed Forces and their dependents, including by (1) expanding such protections to cover individuals who have been separated from the Armed Forces for up to one year, (2) expanding the protections to cover loans for purchasing personal property secured by such personal property, (3)…
What it does: CRS summary · Introduced in Senate · Aug 1, 2018
Military Lending Improvement Act of 2018
This bill revises consumer credit protections for active members of the U.S. Armed Forces and their dependents, including by (1) expanding such protections to cover individuals who have been separated from the Armed Forces for up to one year, (2) expanding the protections to cover loans for purchasing personal property secured by such personal property, (3) reducing the maximum allowable annual interest rate of covered loans, (4) prohibiting creditors from installing a device on a borrower's car that can affect the car's operation or report its location, and (5) imposing certain limitations on debt collection practices.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Military Lending Improvement Act of 2018
Latest action (Aug 1, 2018): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Armed Forces and National Security · Origin: Senate · Introduced: Aug 1, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.