The Department of Defense (DOD) recently released amendments to the rules implementing the Military Lending Act (MLA). The applicable restrictions and requirements have been expanded and apply to consumer lending transactions such as installment loans, closed-end credit, credit cards, and other open-ended lending products. Covered borrowers include active duty military members as well as certain members of the National Guard and Reserves and their dependents. Covered borrowers will be entitled to new disclosures and will not be subject to mandatory arbitration. The applicable restrictions and requirements do not apply to residential mortgages, home equity loans, HELOCs, or purchase money installment loans. Lenders must comply with the new requirements by October 3, 2016. However, provisions relating to credit cards do not take effect until October 1, 2017.