Common use of Military Lending Act Disclosure Clause in Contracts

Military Lending Act Disclosure. Federal law provides important protections to members of the Armed Forces and their dependents relating to certain extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call us at 000.XXXXX.XX to receive oral disclosures of the Military Lending Act disclosure above and a description of the payment obligation.

Appears in 4 contracts

Samples: Automatic Payment Agreement, Automatic Payment Agreement, Automatic Payment Agreement

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Military Lending Act Disclosure. Federal law provides important protections to members of the Armed Forces and their dependents relating to certain extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percentthirty-six percent (36%). This rate must include, as applicable applicable, to the credit transaction or account: The the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call us at 000.XXXXX.XX to receive oral disclosures of the Military Lending Act disclosure above and a description of the payment obligation.

Appears in 2 contracts

Samples: Automatic Payment Agreement, Automatic Payment Agreement

Military Lending Act Disclosure. Federal law provides important protections to members of the Armed Forces and their dependents relating to certain extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call us at 000.XXXXX.XX to receive oral disclosures of the Military Lending Act disclosure above and a description of the payment obligation.

Appears in 1 contract

Samples: Automatic Payment Agreement

Military Lending Act Disclosure. Federal law provides important protections to members of the Armed Forces and their dependents relating to certain extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call us at 000.XXXXX.XX To hear disclosures related to receive oral disclosures of the Military Lending Act disclosure above and a description of the payment obligationAct, please call this toll-free number: 0-000-000-0000.

Appears in 1 contract

Samples: Cardholder Agreement

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Military Lending Act Disclosure. Federal law provides important protections to members of the Armed Forces and their dependents relating to certain extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percentthirty-six percent (36%). This rate must include, as applicable to the credit transaction or account: The the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call us at 000.XXXXX.XX to receive oral disclosures of the Military Lending Act disclosure above and a description of the payment obligation.

Appears in 1 contract

Samples: Automatic Payment Agreement

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