(Recording + Free Digital Download) Military Lending Act: Exam Procedure Changes, Post-Implementation Considerations & FAQs

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As of October 3, 2016, the Military Lending Act (MLA) expanded its coverage to banks. This is the first time that the MLA has applied to banks. Is your bank in compliance? Don’t confuse the MLA with the Servicemembers Civil Relief Act; they have completely different requirements. The penalties for a violation of the Military Lending Act are severe – damages of not less than $500 per violation, plus punitive damages and attorney fees. This webinar will explain everything that needs to be done to comply with the MLA. You’ll also learn the differences between the Military Lending Act and the Servicemembers Civil Relief Act to ensure compliance with both.

HIGHLIGHTS
Which MLA requirements apply to your financial institution?
Which servicemembers and dependents are covered by the MLA?
What are the required disclosures and when must they be given?
How to qualify for the safe harbor provisions
Difference between the MLA and the SCRA

TAKE-AWAY TOOLKIT
Model form of MLA required disclosures
FDIC Compliance Examination Manual for the MLA
Employee training log
Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND? Compliance Officer, all lending staff, including loan officers, loan operations employees, credit administration personnel, managers, collectors, compliance officers, and attorneys.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP, a partner with where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.