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, for 32 CFR Part 232.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code

Title 32 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 32 CFR Part 232 after this date.

  • 2014-11-25; vol. 79 # 227 - Tuesday, November 25, 2014
    1. 79 FR 70136 - Limitations on Terms of Consumer Credit Extended to Service Members and Dependents
      GPO FDSys XML | Text
      DEPARTMENT OF DEFENSE, Office of the Secretary
      Proposed rule; extension of comment period.
      The comment period for the proposed rule published on September 29, 2014 (79 FR 58601), is extended. Comments must be submitted not later than December 26, 2014.
      32 CFR Part 232