Panelists

John L. Culhane, Jr.
Anthony C. Kaye
Joseph J. Schuster 

Program

When it comes to their finances, our servicemen and women don’t just deserve special treatment—it’s the law. The Military Lending Act (MLA) is undergoing changes and expansions and compliance with the Service Members Civil Relief Act is becoming ever more complex.

With the recent proposed Department of Defense expansion of the definition of consumer credit and the alteration of safe harbor laws when determining whether borrowers are covered under the MLA, it is more important than ever to know your responsibilities to servicemembers. Chances are that if you offer credit cards, vehicle title loans, payday loans, or essentially any unsecured credit, the proposed MLA rule will affect your institution and the responsibility will fall on you to determine if a customer is covered under the new proposed rule. 

Topics

  • Overview of current protections provided by MLA/SCRA
  • DoD Proposed Rule regarding the Military Lending Act and its implications and implementation issues
  • What is the Defense Manpower Data Center (DMDC) database and who should use it?
  • Best practices for MLA and SCRA compliance
  • An overview of recent SCRA enforcement actions

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Related Practice

Consumer Financial Services