On July 18, the American Financial Services Association (AFSA) submitted comments on an information collection notice from the Department of Defense concerning the Military Lending Act.
AFSA has been involved in issues related to the Military Lending Act for several years. The organization has monitored regulatory policies that have impacted credit availability for military consumers and their families. In its letter, AFSA reminded the Department of Defense about ongoing work needed in this area. "While well-intentioned, some of the current Military Lending Act regulations limit access to popular forms of credit that are generally available to the public," AFSA stated. The association has recently met with the Department of Defense regarding these matters and is keen to continue discussions to ensure military consumers have access to a broad range of credit products and services.