HR 5050 VETERANS AND CONSUMERS FAIR CREDIT ACT
Three Representatives introduced this bill a couple of weeks ago. The bill would extend most of the provisions of the Military Lending Act (MLA) to all consumers. EANGUS is concerned about the gratuitous use of the word “Veterans” in the name since the bill does nothing specifically for veterans as a subset of consumers, and the bill was introduced the day after Veterans Day. EANGUS has weighed in with the House Financial Services staff and made its objections known. Whether the staff will alter the bill or not remains to be seen.
