Wednesday
Jan 24
2018

Preparing for a Military Lending Act Audit

Registration Options & Pricing

Please select your membership status.


Live Webinar Includes

  • One connection to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Presenter’s Contact Info for Follow-Up

Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available six business days following Live date
  • Available for 6 months following Live
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your credit union
  • Presenter’s contact info for follow-up
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Wednesday, January 24, 2018

10:00 am – 11:30 am HST
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 Department of Defense’s (DoD’s) amendments to the Military Lending Act (MLA) regulations were effective October 3, 2016 (except for credit cards, which became effective October 3, 2017). The Act applies to all credit unions whenever “consumer credit” is extended to a “covered borrower.” The regulations provide safe harbor options to confirm whether a borrower is a covered borrower and contain other complex requirements and prohibitions. For example, credit unions must provide both written and oral disclosures to covered borrowers and must refrain from charging a Military Annual Percentage Rate (MAPR) above 36%.

In preparation for an examination or audit, credit unions should analyze their fees and ancillary products, review and adjust procedures, and work with third-party vendors to ensure compliance. This webinar will cover MLA requirements and mandatory procedures and disclosures. Situations where the MAPR exceeds the 36% limitation will also be addressed.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Which products are covered?
  • Written and oral disclosure requirements
  • Safe harbor methods for determining “covered borrower” status
  • MAPR calculation and special issues with credit card accounts
  • DoD’s tests and safe harbor provisions for “bona fide and reasonable” credit card fees
  • Action items to prepare for an MLA audit or examination
  • DoD’s guidance regarding MLA requirements

  • TAKE-AWAY TOOLKIT
    • MLA FAQs
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

DON'T MISS THIS RELATED WEBINAR!

"Collections & the Servicemember: From the MLA to SCRA"
Wednesday, March 28, 2018

WHO SHOULD ATTEND?

This informative session is designed for compliance, audit, lending, and operations staff.

PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER

Howard & Howard Attorneys PLLC
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