Banking Military Personnel: MLA, SCRA & Recent Citations
StreamedFeb 28, 2023Duration90 minutes
See Registration Options
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Compliance with the MLA and SCRA is not optional.
If your financial institution serves military personnel, your programs must meet strict requirements – especially in the lending area. Join this session to learn the ins and outs and ensure our military women and men are protected when banking with you.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the background and requirements of the MLA and SCRA
- Identify covered borrowers
- Detail the primary lending provisions of the SCRA
- Review the types of credit covered by the regulations
- Recognize the components used to calculate the Military Annual Percentage Rate (MAPR)
Financial institutions can run afoul of the Servicemembers' Civil Relief Act (SCRA) and Military Lending Act (MLA) which can result in operational, compliance, strategic, and reputational harm. The SCRA was enacted to help servicemembers to devote their time and energy to serving our country by limiting certain actions regarding their loans. Similarly, the MLA limits the amount that creditors may charge for interest, fees, and charges imposed for credit insurance, debt cancellation and suspension, and other credit-related ancillary products sold in connection with the transactions.
This fact-filled webinar will review each of these Acts and provide best practices for compliance. It will walk through the steps necessary at the time of application when a loan becomes delinquent, and when you become aware that a borrower meets the definition of a "covered borrower" under each Act. Sample policy language and other tools to facilitate compliance will be provided.
WHO SHOULD ATTEND?
This informative session is directed to branch managers, consumer loan officers, loan operations personnel, compliance officers, and internal auditors.
- SCRA and MLA checklists
- Applicability flow charts
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Brode Consulting Services Inc
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