Military Lending Act Interpretive Rule 2020 Summary

Updated 07/01/2020

In this third MLA interpretive rule, the Department of Defense is withdrawing Q&A #2 from its December 14, 2017 Interpretive Rule after receiving several formal requests to do so. This means that the DOD is reverting back to the original Q&A #2 published in the August 26, 2016 Interpretive Rule for the time being. In addition to the withdrawal of Q&A #2, the DOD is also adding Q&A #21 which addresses the use of an Individual Taxpayer Identification Number when an individual does not have a Social Security Number in order to determine if the person is covered borrower in the MLA database for safe harbor purposes.

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