Complying with Final Military Lending Act Rule Changes Effective October 3, 2016
Thursday, August 25, 2016
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
The penalties for a violation of the Military Lending Act are severe. Will you be ready?
Effective October 3, 2016, the Military Lending Act (MLA) will expand its coverage to banks for the first time. This will require substantial changes to loan operations. For example, the Military Lending Act’s requirements are completely different from the requirements of the Servicemembers Civil Relief Act (SCRA). The penalties for a violation of the MLA are severe – damages of not less than $500 per violation, plus punitive damages and attorney fees. Will you be ready on October 3?
This webinar will explain everything that needs to be done to comply with the Military Lending Act. It will also explain the differences between the MLA and SCRA to ensure compliance with both.
Continuing Education: Attendance verification for CE credits upon request
- Which MLA requirements will apply to your institution?
- Which service members and dependents are covered by the MLA?
- What are the required disclosures and when must they be given?
- How to qualify for the safe harbor provisions
- Differences between the MLA and the SCRA
- TAKE-AWAY TOOLKIT
- Model form of the MLA’s required disclosures
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Can’t wait until August to start planning?
|"Expanded Financial Protections Under the New Military Lending Act, Including SCRA Update"
Held on Monday, September 21, 2015.
You can order a recording of the live webinar, with a free digital download.
WHO SHOULD ATTEND?
This informative session is designed for all loan personnel including loan officers, loan operations, credit administration, managers, collectors, compliance officers and attorneys.
PLEASE NOTE: Webinar content is subject to copyright and intended for your individual financial institution’s use only.