1. Short title This Act may be cited as the Veterans and Consumers Fair Credit Act . 2. Limitations on consumer credit and maximum rates of interest (a) In general Chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq.) is amended by adding at the end the following: 140B. Limitations on consumer credit and maximum rates of interest (a) Application of the Military Lending Act (1) In general Except as provided in paragraph (2), section 987(b) of title 10, United States Code (commonly referred to as the Military Lending Act ), shall apply to a creditor who extends consumer credit to a consumer to the same extent as such section applies to a creditor who extends consumer credit to a covered member or a dependent with respect to a covered member (as those terms are defined in such section 987). (2) Exceptions Paragraph (1) shall not apply to— (A) a residential mortgage; (B) a loan procured in the course of purchasing a car or other personal property, when that loan is offered for the express purpose of financing the purchase and is secured by the car or personal property procured