Compliance Essentials: Military Lending Compliance

Military Lending Compliance

Join our Director of Compliance Support, Heather Line, for a training session covering military lending compliance. We will discuss the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA), focusing on their purposes, key provisions, and protections offered to servicemembers.

Servicemembers Civil Relief Act (SCRA)

The SCRA is a federal law that provides financial and legal protections to active duty servicemembers, reservists, and National Guard members on active orders. We will cover:

• Interest Rate Cap
• Foreclosure and Repossession Protections 
• Civil Court Protections 

Military Lending Act (MLA)

The MLA is designed to protect servicemembers from predatory lending practices and excessive interest rates. We will cover:

• Covered Loans
• Military Annual Percentage Rate (MAPR) Cap 
• Prohibited Practices 
• Enforcement and Compliance 

Time: 10:00 AM – 12:00 PM

Location: Online only. (Zoom links will be provided to registrants before the meeting)

Cost: This class is FREE to all member credit unions of the California, Nevada, and Utah Credit Union Associations.