Professor Todd J. Zywicki on Recently Introduced Versions of the “Veterans and Consumers Fair Credit Act”

Todd J. Zywicki , George Mason University Foundation Professor of Law
Members of Congress in the House and Senate recently introduced versions of the “Veterans and Consumers Fair Credit Act,” designed to extend to all consumers the interest rate caps currently in place for active-duty service members and dependents. This proposed legislation is modeled after the 2015 update to the 2007 Military Lending Act (MLA), and mandates a nationwide 36 percent interest rate cap on consumer credit., October 7