Military Lending Act: A Regulation for All Banks

American Bankers Association Webinar

05/26/2016 02:00 p.m. - 03:00 p.m. EDT

Financial Services and Finance


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

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2019 Morrison & Foerster LLP. All rights reserved.