Regulatory Alerts2026-08-18
Added
32 C.F.R. Part 232: Limitations on Terms of Consumer Credit Extended to Service Members and Dependents
The Department of Defense imposes a 36 percent cap on the Military Annual Percentage Rate (MAPR) for consumer credit extended to covered service members and their dependents. The regulation requires creditors to include most fees, including credit insurance and debt cancellation products, in the MAPR calculation, while allowing specific exclusions for reasonable bona fide fees on credit card accounts. Covered borrowers are defined as those on active duty for more than 30 days or on Active Guard and Reserve duty, and creditors must provide MAPR disclosures before the borrower becomes obligated.