Sending Office: Honorable Paul Cook
Sent By:


Request for Signature(s)

Dear Colleagues:

It has come to our attention that the Department of Defense (DoD) Military Lending Act (MLA) regulation—particularly the July 2015 amendments—has caused numerous financial institutions to eliminate products and services, many of which have
been relied upon by servicemembers and their families. Specifically, we hear from credit unions that they are being forced to cut back on or eliminate products that help find credit solutions for servicemembers and their families who may have few or no options.
This is a result of overly complex regulations that are difficult to understand and comply with. Such an unfortunate result harms not only the credit unions’ servicemembers but also their entire memberships.

Credit unions were not among the unscrupulous lenders for which the July 2015 amendments were adopted. Alternatively, many servicemembers rely on credit unions for safe and affordable financial services. Accordingly, we plan to send a letter
to the DoD to urge it to address unclear and complex requirements that have had the unintended consequence of limiting options for credit. While we strongly support the objective of the July 2015 amendments to the MLA regulation, and the MLA in general which
has targeted unscrupulous lenders, we are concerned about its recent detrimental impact on good actors such as credit unions.

We urge you to join in our efforts to seek clarification about this important issue impacting the livelihood of our servicemembers.  Deadline to sign on is Tuesday, September 12th.  If you have any questions or are interested in signing onto this letter,
please contact Jon Cochran at or 5-5861.

Related Legislative Issues
Selected legislative information:Armed Services, Consumer Affairs, Finance
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