Description: Helps protect service members and their families from financial fraud and predatory lending. Educates service members about making sound financial decisions and how to stop fraud before it happens. Done through the Military Lending Act (MLA), which protects the financial interests of active duty military and their families in certain credit transactions. The MLA limits the amount a creditor may charge, including interest and fees, for payday loans, auto title loans, tax refund anticipation loans, credit cards (starting in October 2017), and certain other credit products. Encourages service members to investigate before investing, shows how to better handle their finances, and includes information about annuities, privacy protection, and scams.California TAP$ Can Help With Investment Decisions by: Confirming if a salesperson and company are properly licensed and registered Identifying possible "red flags" associated with a solicitation Providing information on current scams Giving the facts before investing Directing individuals to available resources
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