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Partners Alliance Corporation introduces a

Solution to address Military Lending Act Rules



Poway, CA — February 13, 2018 — Partners Alliance Corporation (PAC), a leading provider of GAP to the auto dealer market, announced the introduction of their Military Annual Rate Calculator (MARC), a calculation solution designed to address the recent interpretive rule of the Department of Defense (DOD) issued on Dec. 15, 2017 under the Military Lending Act (MLA).

The MLA provides specific protections for active duty service members and their dependents in consumer credit transactions, including a 36% cap on the military annual percentage rate (MAPR) in covered transactions. The Act also requires the disclosure of the MAPR in covered transactions.  There are other disclosure requirements with which auto dealers can easily comply.

“PAC has always been responsive to the needs of its agents and their auto dealer clients.” said PAC President Jason Fletcher.  “With that in mind, we set out to provide a solution to calculate the MAPR in compliance with the DOD’s interpretation of the MLA”.

The calculation solution is tested and ready for delivery to the auto dealer market.  Section  1026.22(a)(1) of Regulation Z provides a “safe harbor” to dealers/lenders for an error in the annual percentage rate or finance charge that resulted from an error in a calculation tool used in good faith by the dealer/lender.

Interested parties can obtain a copy of this tool by contacting Jason Fletcher at 858-391-5670, or at jfletcher@partnersalliancecorp.com.