1. Short title This Act may be cited as the Military Lending Improvement Act of 2018 . 2. Expansion and improvement of consumer credit protections for members of the Armed Forces (a) Extension of applicability to individuals recently discharged or released from the Armed Forces Paragraph (1) of subsection (i) of section 987 of title 10, United States Code, is amended to read as follows: (1) Covered member The term covered member means the following: (A) A member of the armed forces who is— (i) on active duty under a call or order that does not specify a period of 30 days or less; or (ii) on active Guard and Reserve duty. (B) An individual who was separated, discharged, or released from duty described in subparagraph (A), but only during the 365-day period beginning on the date of separation, discharge, or release. . (b) Decrease in maximum authorized annual percentage rate on credit (1) Decrease in rate Subsection (b) of such section is amended by striking 36 percent and inserting 24 percent . (2) Effective date The amendment made by paragraph (1) shall take effect on the date that is 180 days after the date of the enactment of this Act, and shall apply with respect to consumer credit extended on or after such effective date. (c) Prohibition on creditor use of auto tracking or kill switches Subsection (e) of such section is amended— (1) in paragraph (6), by striking or at the end; (2) in paragraph (7), by striking the period at the end and inserting ; or ; and (3) by adding at the end the following new paragraph: (8) the creditor demands, as a condition for the credit, the application of— (A) a device that can locate or adjust the operations of the borrower’s motor vehicle by a third party