The Department of Defense issued regulations the financial institutions must follow regarding loans to military personnel. This course discusses the rules and the impact to bank's policies and procedures. This course is intended for compliance personnel, lenders, and loan operations personnel. Course length ≈ 12 minutes.

Learning Objectives:

• Explain how the MLA final rule defines consumer credit
• Ensure bank policies and procedures services are in compliance with the modifications the Final Rule makes to the MLA, specifically the modifications to disclosure and roll-over rules
• Understand and explain the protections the MLA final rule provides to service members and their dependents
• Ensure bank policies and procedures are not in violation of the prohibitions set forth in the MLA final rule

Course Outline

• Overview and definitions
• Modifications
• Covered borrowers
• Prohibitions
• Conclusions