Senate Bill 3334
115th Congress(2017-2018)
Military Lending Improvement Act of 2018
Introduced
Introduced in Senate on Aug 1, 2018
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3334
Congress
115
Policy Area
Armed Forces and National Security
Armed Forces and National Security
Primary focus of measure is military operations and spending, facilities, procurement and weapons, personnel, intelligence; strategic materials; war and emergency powers; veterans’ issues. Measures concerning alliances and collective security, arms sales and military assistance, or arms control may fall under International Affairs policy area.
No Senate votes have been held for this bill.
Summary
Military Lending Improvement Act of 2018
This bill revises consumer credit protections for active members of the U.S. Armed Forces and their dependents, including by (1) expanding such protections to cover individuals who have been separated from the Armed Forces for up to one year, (2) expanding the protections to cover loans for purchasing personal property secured by such personal property, (3) reducing the maximum allowable annual interest rate of covered loans, (4) prohibiting creditors from installing a device on a borrower's car that can affect the car's operation or report its location, and (5) imposing certain limitations on debt collection practices.
August 1, 2018
08/01/2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
08/01/2018
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:41:42 PM