32 CFR 232.4 - Terms of consumer credit extended to covered borrowers.

§ 232.4 Terms of consumer credit extended to covered borrowers.
(a) Neither a creditor who extends consumer credit to a covered borrower nor an assignee of the creditor shall require the member or dependent to pay a military annual percentage rate (MAPR) with respect to such extension of credit, except as—
(1) Agreed to under the terms of the credit agreement or promissory note;
(2) Authorized by applicable State or Federal law; and
(3) Not specifically prohibited by this part.
(b) A creditor described in paragraph (a) of this section or an assignee may not impose an MAPR greater than 36 percent in connection with an extension of consumer credit to a covered borrower.

Title 32 published on 2014-07-01

no entries appear in the Federal Register after this date.

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