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Live Webinar

90-minute live streaming program
  • December 17
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Webinar
Audio & Reference Manual

The New Military Lending Act (MLA) Regulations: New Changes

December 17

Get an overview of the Military Lending Act and make sure your strategy is both legally compliant and operationally efficient.

The Department of Defense (DOD) amended the implementing regulations of the Military Lending Act (MLA) in 2015, expanding the scope of covered borrowers, covered products, and creating new limitations for lenders. Most changes went into effect on October 3, 2016 and the deadline for compliance for new credit card accounts is October 3, 2017. The Rule subjects lenders to both civil liability and administrative enforcement for MLA violations in addition to the reputational risk of noncompliance. This topic helps lenders understand the new MLA requirements with a depth that will allow them to assess their institutional strategy and identify areas of risk. It will provide the information necessary to identify potential opportunities for operational streamlining and consolidation with existing SCRA requirements. You will learn the permissible uses of the MLA database to avoid potential pitfalls. The content explains, in detail, how to calculate MAPR and the new safe harbor provisions. Additionally, you will be provided with the necessary tools to compare your policies and procedures with the key elements that regulators are looking for during examinations. This information is critical for compliance professionals, in-house counsel, and mid-to-upper management at financial institutions offering consumer credit to ensure that their MLA strategy is both legally compliant and operationally efficient.

Learning Objectives

  • You will be able to discuss what the regulators are focusing on as they begin to examine compliance with the 2016-2017 changes to the Military Lending Act.
  • You will be able to explain how the Military Lending Act differs from the SCRA.
  • You will be able to identify areas of risk in your business related to compliance with the 2016 changes to the Military Lending Act.
  • You will be able to review who is covered by the Military Lending Act, what transactions the Act affects, and how the changes impact lenders.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of the Military Lending Act (MLA)
  • Brief Bird's-Eye View of the the MLA and the 20162017 Changes
  • Difference Between the MLA and SCRA
  • Definition of "Creditor" Under the Act
  • Implementation Rollout and Regulatory Examinations
Requirements of the MLA
  • MLA Requirements Already in Place
  • Scope and Impact of the 20162017 Changes to the MLA
    • How the Changes Have Broadened the Definition of "Consumer Credit"
    • How the MAPR Limits and Disclosures Have Changed
    • Restrictions on Loan Rollovers, Renewals, and Refinancing
How to Comply With Specific Provisions of the MLA
  • How to Identify Covered Borrowers
    • Operational Compliance Integration With the SCRA Requirements
    • Permissible Use of MLA Databases
  • How to Identify Covered Transactions and Exceptions
  • How to Calculate MAPR and How Is It Different From APR?
  • Savings Clauses in Standard Written Credit Agreements
What the Regulators Are Looking for When They Examine a Lender
  • A Compliance Management System With Policies and Procedures That Implement Controls Related to the MLA Requirements
  • A Lender's Policies and Procedures for Identifying Covered Borrowers
  • A Lender's Policies and Procedures for Calculating MAPR
  • The Sufficiency of a Lender's Mandatory Loan Disclosures
  • That the Lender Is Abiding by the Prohibitions on Rolling Over, Renewing, Repaying, or Refinancing
  • That the Lender Is Not Requiring a Covered Borrower to Waive Certain Rights or Provide Access to Certain Accounts
A Look Toward the Future
  • Review of Major Points
  • What We May Be Able to Expect With Regard to Enforcement
  • Changes on the Horizon
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 27, 2017.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, branch managers, loan officers, loan department personnel, credit and collection managers, controllers, directors, accountants and real estate professionals.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Greenspoon Marder LLP

  • Senior Counsel in the Tampa office of Greenspoon Marder LLP
  • Provides legal and regulatory compliance guidance to business, real estate, and financial services clients on a wide range of Federal and State topics, including but not limited to the following: RESPA, SCRA, TILA, MLA, PACE Financing, Vendor Management, ECOA, FDCPA, FCRA, FACTA, UDAAP, FATCA, FACTA and myriad regulations. She also represents clients in regulatory and consumer defense litigation
  • Was featured in the Tampa Bay Business Journal, discussing the impact of the 2016 election on Dodd-Frank and the effect on community banks
  • Has written numerous articles
  • Can be contacted at 813-769-7038 or [email protected]
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Product ID: 404605
Published 2017, 2018
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