At the end of 2017, the Department of Defense (DOD) issued a new interpretation of the Military Lending Act Rule (MLAR). If you are unfamiliar with this rule, it contains an exemption for credit, which is expressly extended for the purchase of a motor vehicle or personal property. When the rule was issued, there was confusion concerning whether the inclusion of an ancillary … [Read more...] about How Military Lending Act Rule Changes Will Affect Dealers
On July 10, the Consumer Financial Protection Bureau (CFPB) announced it was moving forward with the arbitration rule proposed last year. Under the rule, companies may not use arbitration clauses to stop consumers from taking part in class actions. The rule will be effective 60 days from the date it is published in the Federal Register. Should a company wish to include … [Read more...] about Does July’s CFPB Rule Signal the End of Consumer Arbitration?