Common use of Military Lending Act Clause in Contracts

Military Lending Act. The Military Lending Act provides protections for Covered Borrowers. The provisions of this section apply to Covered Borrowers. If you would like more information about whether you are a Covered Borrower, you may contact us at 0-000-000-0000. Federal law provides important protections to members of the Armed Forces and their dependents relating to 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%. This rate must include, as applicable to the credit transaction or account: (1) the costs associated with credit insurance premiums; (2) fees for ancillary products sold in connection with the credit transaction; (3) any application fee charged (other than certain application fees for specified credit transactions or accounts); and (4) any participation fee charged (other than certain participation fees for a credit card account).

Military Lending Act. The Military Lending Act provides protections for Covered Borrowers. The provisions of this section apply to Covered Borrowers. If you would like more information about whether you are a Covered Borrower, you may contact us at 0-000-000-0000. Federal law provides important protections to certain members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her any dependent thereof may not exceed an Annual Percentage Rate APR of 36%. This rate must include, as applicable to the credit transaction or account: (1i) the costs associated with credit insurance premiums; (2ii) fees Fees for ancillary products sold in connection with the credit transaction; (3iii) any application fee Fee charged (other than certain application fees Fees for specified specified credit transactions or accounts); and (4iv) any participation fee Fee charged (other than certain participation fees Fees for a credit card account). In order to hear important Military Lending Act disclosures and payment information provided in this Agreement orally, please call (000) 000-0000.