Category Archives: Rate Cap

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,

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


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