Military Lending Act: A Regulation for All Banks

American Bankers Association Webinar

26 May 2016 02:00 p.m. - 03:00 p.m. EDT

Of Counsel Leonard Chanin will speak on the American Bankers Association’s “Military Lending Act: A Regulation for All Banks” webinar. The Military Lending Act (MLA), for which compliance is mandatory on October 3, 2016, presents a compliance challenge for all banks. The regulation not only imposes a 36% all-in "military" APR on certain loans to military personnel and their spouses and dependents, it prohibits other, often vague terms and requires covered borrowers receive oral disclosures. Learn more about how to implement this complicated and confusing regulation.

This Briefing will focus on:

  • The meaning of the all-in "military" APR
  • Other terms that are prohibited in covered loans
  • The types of loans covered
  • How and where to identify covered borrowers
  • How to provide oral disclosures
  • Options on how to comply



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