CFPB Delivers a CID to Virginia Pawnbroker
over Possible Violations of the Military Lending Act and Department of Defense Regulations

npaofficeadmin Legislative Updates & Alerts, Members Only, NPA News

Urgent from the NPA Government Relations Team
May 30, 2019

A few months ago, we learned of rumors circulating that the CFPB would no longer be “examining” lenders for compliance with the Military Lending Act (MLA). As the saying goes, one picture is worth a thousand words, that clear picture is of the CFPB delivering a Civil Investigative Demand (CID) this month to a Virginia pawnbroker requiring all pawn-related documents since October 3, 2016, when the DoD MLA regulation became effective. 

This Content is for Members Only