Military Pawn Regulations

"Covered Borrowers'

Regulations identify military personnel and their dependents as "covered borrowers" and that includes:

  • Active duty of not less than 30 days
  • Active guard and reserve
  • Children up to age 21 (or 23 for college-enrolled children)
  • Any family member dependent upon the military person for over 1/2 of their support including parents or parents-in-law living with the person
  • Anyone under the person's legal custody
  • Anyone dependent upon the person as defined by 12 USC 1072(2)(D) or (E). 32 CFR 232.3(g)(3).

General Provisions of MLA

  • The annual percentage (Mapr) cannot exceed 36%.
  • A mandatory loan disclosure is required.
  • The borrower's protections cannot be waived.
  • Arbitration is not allowed.
  • The pawn shop cannot accept checks as payment.
  • A prepayment penalThank you is not allowed.
  • Vehicles cannot be pawned. (no title loans)

Checking for Military Status

Go to https://mla.dmdc.osd.mil/ and enter the person's last name, date of birth and SSN. Loans cannot be made to personnel who refuse to provide their SSNs.

In PPSS on the new-client screen clicking on the button named 'Military' will open the OSD site in a browser. For military, check the box and enter the DMDC Certificate ID.

In the 24k edition of the software a picture of any person can be taken and stored using a webcam.

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