The Military Lending Act (MLA) is a federal law enacted in 2006 to provide protections for active-duty service members and their dependents against predatory lending practices. The MLA applies to various types of consumer credit, including payday loans, vehicle title loans, tax refund anticipation loans, and certain installment loans. Under the Military Lending Act, lenders are prohibited from charging certain high-interest rates and fees to military personnel and their families. The law sets a maximum annual percentage rate (APR) of 36% for covered loans, which includes interest, fees, and other charges. This cap is designed to prevent lenders from exploiting military borrowers with exorbitant interest rates and excessive fees. Learn more about it at consumerfinance.gov.