Federal law provides important protections to members
of the Armed Forces and their dependents relating to extensions of
consumer credit. In general, the cost of consumer credit to a member of
the Armed Forces and his or her dependent may not exceed an annual
percentage rate of 36 percent. This rate must include, as applicable to
the credit transaction or account: The costs associated with credit
insurance premiums; fees for ancillary products sold in connection with
the credit transaction; any application fee charged (other than certain
application fees for specified credit transactions or accounts); and
any participation fee charged (other than certain participation fees
for a credit card account).