2016 Cards Lending Taxes 
PYMNTS
APRIL 25, 2018
Capital One logged stronger than expected results when it posted its earnings yesterday — the growth was driven largely by rising interest rates and an uptick in its largest lending categories, cars and cards. Supply of card credit is on the high side, although it has settled out a bit. billion from a year earlier.
PYMNTS
FEBRUARY 23, 2018
23) that it uncovered “methodological issues” with how it calculates credit card interest rates and will offer “remediation” to those customers impacted by such calculations. The company disclosed it “self-reported” the findings to regulators, said Reuters, as pertains to Regulation Z and the CARD Act.
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CFPB Monitor
SEPTEMBER 2, 2016
The American Bankers Association, joined by six other prominent industry trade groups, is seeking a six-month extension of the date by which depository institutions must comply with the Military Lending Act (MLA) final rule adopted by the Department of Defense (DoD) in July 2015 that dramatically expanded the scope of the MLA’s coverage.
ZootBlog
JUNE 8, 2016
In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2015 and October 3, 2017. The 2017 date applies only to credit cards. The MLA’s overall goal is to prevent predatory lending against U.S.
CFPB Monitor
JULY 27, 2015
The Department of Defense (DoD) dramatically expanded the scope of the Military Lending Act (MLA) on July 22, 2015, publishing its Final Rule amending the MLA’s implementing regulation. The DoD consulted with the CFPB in developing the Final Rule, and the CFPB actively supported the DoD’s plans to expand MLA coverage.
CFPB Monitor
APRIL 11, 2016
A number of prominent industry trade groups have written to the Department of Defense (DoD) seeking clarifications to the Military Lending Act (MLA) final rule adopted in July 2015 that dramatically expanded the scope of the MLA’s coverage.
PYMNTS
FEBRUARY 20, 2018
Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. trillion, a $193 billion increase from Q3 and $402 billion higher than the fourth quarter of 2016. A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. Credit Card Troubles.
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