Military Lending Act & SCRA: Compliance & Lessons Learned

Compliance Sales & Specials

On-Demand Webinar

StreamedMay 29, 2019Duration90 minutes

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

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HIGHLIGHTS

Maximum rate of interest on existing extensions of credit under the SCRA
Foreclosure protections under the SCRA and how these were affected by the Economic Growth, Regulatory Relief, and Consumer Protection Act
Enforcement actions against financial institutions for SCRA violations
How to properly calculate the Military Annual Percentage Rate (MAPR) under the MLA
Additional disclosure requirements for new credit extended to active duty servicemembers
MLA loan product restrictions and limitation

WEBINAR DETAILS

An important fair lending component that is often overlooked is how to properly extend credit to active duty servicemembers. Two federal laws govern these requirements: the Servicemember’s Civil Relief Act (SCRA) and the Military Lending Act (MLA). This program will identify both the protections afforded to active duty servicemembers on existing loans under the SCRA, as well as the MLA’s compliance requirements for new loans made to active duty servicemembers.

WHO SHOULD ATTEND?

This informative session is designed specifically for lenders, underwriters, lending support staff, collectors, managers, and compliance officers.

TAKE-AWAY TOOLKIT

Quick reference chart comparing SCRA and MLA compliance requirements
Employee training log
Interactive Quiz to measure staff learning
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 financial institution is prohibited. Print materials may be copied for eligible participants only.