Military Lending Act
At Jacobson Phillips, we are committed to defending the rights of active-duty service members and their families under the Military Lending Act (MLA). The MLA is a Federal law that offers special protections for active duty servicemembers. Under the Act, loan products offered to military members and their families are subject to interest rate caps, special disclosures requirements, and prohibitions on forced arbitration. Under the MLA, each violation is subject to a penalty of at least $500.
If you are covered by the MLA and have been subjected to excessive interest, forced arbitration provisions, hidden fees, or other unfair lending practices, you may have legal options. Our experienced litigation team fights to hold lenders accountable and serve those who serve. Contact us today for a consultation and let us protect your financial rights.