Federal law gives you important protections whenever you apply for or use credit, including Elastic lending loans. This page summarizes the key laws and where to find trustworthy help.
Key federal consumer credit laws
| Law | What it protects |
|---|---|
| Truth in Lending Act (TILA) | Requires clear disclosure of credit costs and terms before you are obligated, including finance charges and payment terms |
| Equal Credit Opportunity Act (ECOA) | Prohibits credit discrimination and requires notice of adverse action — see our Fair Lending Notice |
| Fair Credit Reporting Act (FCRA) | Gives you the right to see and dispute your credit reports and to know when a report was used against you |
| Fair Debt Collection Practices Act (FDCPA) | Bars third-party debt collectors from harassment, false statements and unfair practices |
| Electronic Fund Transfer Act (EFTA) | Protects electronic payments, including your right to stop preauthorized ACH debits and dispute unauthorized transfers |
| Gramm-Leach-Bliley Act (GLBA) | Requires financial institutions to explain information-sharing practices and safeguard customer data |
| Military Lending Act (MLA) | Caps the cost of credit for covered service members — see our MLA notice |
Your right to stop ACH payments
Under the EFTA and Regulation E, you can stop a preauthorized recurring debit by notifying your bank at least three business days before the scheduled transfer, and you can revoke the authorization with the company. Stopping a payment does not cancel the debt, so talk to your lender about other ways to pay.
Your credit reports
You can get free credit reports from Equifax, Experian and TransUnion at AnnualCreditReport.com. Review them regularly and dispute any errors with the bureau and the company that reported the information.
Trusted resources
- Consumer Financial Protection Bureau (consumerfinance.gov) — guides, tools and a complaint portal
- Federal Trade Commission (consumer.ftc.gov) — scam alerts and fraud reporting
- AnnualCreditReport.com — the official source for free credit reports
- National Foundation for Credit Counseling (nfcc.org) — nonprofit credit counseling
- Your state attorney general or financial regulator
Have a concern? See our Complaints & Dispute Resolution page.
Fair Lending Notice
Your rights under the Equal Credit Opportunity Act and the Fair Credit Reporting Act.
elasticlendingloan.com supports equal access to credit. Although we are not a lender and do not make credit decisions, we require participating lenders to comply with federal fair-lending laws, and we want every visitor to understand their rights when applying for Elastic lending loans or any other credit.
Equal Credit Opportunity Act notice
The federal Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex (including sexual orientation and gender identity), marital status, or age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.
The federal agency that administers compliance with this law depends on the creditor. For many non-bank creditors it is the Federal Trade Commission; for banks it may be the bank's primary federal regulator or the Consumer Financial Protection Bureau. Your lender's adverse action notice will name the agency that applies to it.
Your rights if credit is denied
| Right | Law | What it means |
|---|---|---|
| Adverse action notice | ECOA / Regulation B | A creditor must tell you about a decision within 30 days of a completed application and give specific reasons or tell you how to request them |
| Credit report disclosure | FCRA | If a credit report was used, the notice names the consumer reporting agency |
| Free credit report | FCRA | You may request a free copy of that report within 60 days |
| Dispute errors | FCRA | You may dispute inaccurate or incomplete information with the reporting agency |
| Credit score disclosure | FCRA | If a score was used, the notice may include the score and key factors |
Income from public assistance
Income from public assistance, Social Security, pensions or other recurring benefits may not be treated less favorably simply because of its source. Creditors may consider whether the income is likely to continue.
Our commitments
- We present the same information and request form to all visitors.
- We do not use protected characteristics to target or exclude visitors.
- We review lending partners for fair-lending compliance — see our Lending Partner Standards.
Reporting a concern
If you believe you were treated unfairly, you may submit a complaint to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint or to the Federal Trade Commission at reportfraud.ftc.gov. You can also tell us through our complaints process.
Military Lending Act Notice
Why Elastic credit is not available to covered borrowers, and where service members can find help.
The Military Lending Act (MLA) protects active-duty service members and their families from high-cost credit. The Elastic line of credit — and therefore Elastic lending loans — is not available to borrowers covered by the MLA.
Who is a "covered borrower"
- Members of the Army, Navy, Marine Corps, Air Force, Space Force and Coast Guard on active duty, including Guard and Reserve members on active-duty orders for more than 30 days
- Their spouses
- Certain dependents, such as children under 21 (or under 23 if full-time students) and others who receive more than half their support from the service member
Lenders typically confirm status through the Department of Defense MLA database during the application.
Key protections
| Protection | What it means |
|---|---|
| 36% MAPR cap | The Military Annual Percentage Rate, including most fees and add-on products, may not exceed 36% |
| No mandatory arbitration | Creditors cannot require covered borrowers to submit disputes to arbitration |
| No military allotments as a condition | Credit cannot be conditioned on a military allotment for repayment |
| No prepayment penalties | Borrowers may pay off covered credit early without penalty |
| Required disclosures | Specific written and oral disclosures, including the MAPR |
Better resources for service members
- Military OneSource — free, confidential financial counseling
- Army Emergency Relief — interest-free loans and grants for soldiers and families
- Navy-Marine Corps Relief Society — interest-free loans and grants for Sailors and Marines
- Air Force Aid Society — emergency assistance for Airmen and Guardians
- Installation Personal Financial Managers and Counselors
Learn more
Our compliance reviewer explains the MLA in depth in Elastic and the Military Lending Act. If you have been offered credit you believe violates the MLA, you can submit a complaint to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.
Complaints & Dispute Resolution
How to raise a concern with us, what to expect and where to escalate.
We want every visitor to have a fair, transparent experience. If something went wrong — with our website, our guides or a request you submitted — this page explains how to raise it and where to escalate. Concerns about an account with a lender, including an Elastic line of credit, should go to that lender first.
Step 1: Tell us
Submit your complaint through our contact page and choose the most relevant topic. Please include:
- Your name and the email address you used
- The date of your request or visit
- A clear description of the issue and the outcome you want
Please do not include your Social Security number or full bank account number.
Step 2: Our review
| Stage | Target timeframe |
|---|---|
| Acknowledgment | Within 2 business days |
| Investigation and response | Within 15 business days |
| Complex matters | We will update you if more time is needed, generally within 30 days |
Complaints are reviewed by our compliance reviewer, independently of the team involved, and we track complaints to identify recurring issues.
Complaints about a lender
We are not a lender and cannot access or change lender accounts. For questions about approval decisions, fees, payments, cash advances or collections on Elastic lending loans or any credit you obtained, contact the lender using the details in your Line of Credit Agreement or online account. If you tell us about a lender concern, we will review it under our Lending Partner Standards.
Step 3: Escalate if needed
- Consumer Financial Protection Bureau: submit a complaint at consumerfinance.gov/complaint. The CFPB forwards complaints to companies and publishes response data.
- Federal Trade Commission: report deceptive practices or fraud at reportfraud.ftc.gov.
- State regulators: your state's financial regulator or attorney general's consumer protection office.
Credit report disputes
If information on your credit report is inaccurate, dispute it directly with the consumer reporting agency (Equifax, Experian or TransUnion) and with the company that furnished the information. Agencies generally must investigate within 30 days under the Fair Credit Reporting Act.
No retaliation
Submitting a complaint will never affect how we treat you or your ability to use our site.
See also Consumer Rights & Resources.
Last reviewed October 17, 2026. Information reflects published Elastic® line of credit terms at the time of review and may change. Always read the lender's Line of Credit Agreement before you borrow.