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Understanding the New Military Lending/John Warner Rules

Recent changes in the regulations implementing the Military Lending Act (MLA) have forced creditors to re-evaluate their compliance program to ensure they are prepared for the new requirements. This webinar will address the Department of Defense’s amendments to the Military Lending Act of 2006 (MLA) and the Service members Civil Relief Act (SCRA) requirements. In this session we will cover the rule’s scope, definitions, the Military Percentage Rate cap, required disclosures for service members and their dependents, credit card requirements, penalties and best practices for complying with the final rule.

By the time the webinar has concluded you should be able to identify those transactions and borrowers who are covered by the rule, have a clear understanding of the fees and charges that must be included in the Military Annual Percentage Rate (MAPR) calculations and be able to determine how this rule will affect your product offering.

We Will Cover:

  • General rules
  • New changes
  • Applicability
  • MAPR calculations
  • Dependent considerations
  • Best practices
  • Penalties

Target Audience:

This webinar should be attended by compliance, audit and other personnel who are involved in efforts at the organization to comply with the MLS and SCRA.

Training on Demand's are limited to Premium Members. If you are interested in learning more about Premium Membership and its benefits, please contact us at Regulatory.Services@capco.com.

Premium Members get access to a number of compliance and risk management resources, including: • Live Webinars • On-Demand Training • Big Orange Book • TRID Calculator • Quick Reference Guides (QRGs) • Monthly Compliance Calendar • Advertising Tutorial

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