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Sponsored by Lorman Education
Only registered attendee will receive continuing education credit.
Product ID: 404605
 
Credit & Course Provided by:

The New Military Lending Act (MLA) Regulations: New Changes

Live Webinar
December 17, 2018
1:00 pm ET (12 pm CT, 11 am MT, 10 am PT)
1 hour 30 minutes
Live Webinar$219Register Now
Can't Attend?   Audio & Reference Manual$219Add to Cart

Get an overview of the Military Lending Act and make sure your strategy is both legally compliant and operationally efficient.

The Department of Defense (DOD) amended the implementing regulations of the Military Lending Act (MLA) in 2015, expanding the scope of covered borrowers, covered products, and creating new limitations for lenders. Most changes went into effect on October 3, 2016 and the deadline for compliance for new credit card accounts is October 3, 2017. The Rule subjects lenders to both civil liability and administrative enforcement for MLA violations in addition to the reputational risk of noncompliance. This topic helps lenders understand the new MLA requirements with a depth that will allow them to assess their institutional strategy and identify areas of risk. It will provide the information necessary to identify potential opportunities for operational streamlining and consolidation with existing SCRA requirements. You will learn the permissible uses of the MLA database to avoid potential pitfalls. The content explains, in detail, how to calculate MAPR and the new safe harbor provisions. Additionally, you will be provided with the necessary tools to compare your policies and procedures with the key elements that regulators are looking for during examinations. This information is critical for compliance professionals, in-house counsel, and mid-to-upper management at financial institutions offering consumer credit to ensure that their MLA strategy is both legally compliant and operationally efficient.

Learning Objectives

  • You will be able to discuss what the regulators are focusing on as they begin to examine compliance with the 2016-2017 changes to the Military Lending Act.
  • You will be able to explain how the Military Lending Act differs from the SCRA.
  • You will be able to identify areas of risk in your business related to compliance with the 2016 changes to the Military Lending Act.
  • You will be able to review who is covered by the Military Lending Act, what transactions the Act affects, and how the changes impact lenders.

Registration

Live Webinar$219Register Now
Can't Attend?   Audio & Reference Manual$219Add to Cart