Category Archives: Legislative Updates & Alerts

Federal Rate Cap Legislation Markup will NOT include H.R. 5050 on December 10, 2019

UPDATE Federal Rate Cap Legislation – H.R. 5050 and S. 2833 Your NPA Team GRC has learned this morning that the House Financial Services Committee Markup on December 10, 2019, will NOT include H.R. 5050. We feel comfortable in the belief that all of the hard work and worn shoe leather on Capitol Hill by NPA Lobbyist, Cliff Andrews, Read More »

Update: Federal Rate Cap Legislation

NPA’s Government Relations Committee (Team GRC) just received information that the federal rate cap legislation we were originally advised would be in next week’s mark-up of bills coming before the House Financial Services Committee has been removed from the list along with a few others. However, it is expected to be included in the next Read More »

MEMBER ALERT! FEDERAL RATE CAP LEGISLATION: November 6, 2019

NPA’s Government Relations Committee has learned of language being drafted on Capitol Hill that would apply the Military Lending Act (MLA) 36% Annual Percentage Rate Cap to all consumers just as if they were a “covered borrower” active duty member of the military, spouse or dependent(s). The draft we have seen thus far includes all Read More »

DMDC WEBSITE WILL REQUIRE A ‘USER ACCOUNT’ FOR MLA CHECK ACCESS

The May 31, 2019 News and Alerts of ‘Upcoming Changes to MLA’ on the front page of the DMDC website states: “Around June 27, 2019, DMDC will make significant changes to the Military Lending Act (MLA) website (https://mla.dmdc.osd.mil) to enhance security of the site and better protect the personal information of Service members. All users Read More »

Congressional Update – May 2019: Potential CTR Relief for Banks and Three Rate-Cap Bills

A big Thank You once again to our members that traveled to Washington and participated in NPA’s Annual Legislative Conference on April 30th. As we discussed then, NPA’s Team GRC continues working on the bank discontinuance issue, as well as following additional developments that could affect pawnbrokers. This Content is for Members Only