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Understanding Requirements Under the Military Lending Act


Get an overview of the Military Lending Act and make sure you are compliant.

In July 2020, the Department of Defense issued a Final Rule updating regulations implementing the Military Lending Act (MLA). These changes drastically expanded the scope of MLA coverage, now applying its restrictions to most types of 'credit' transactions covered by the Truth in Lending Act. These new rules apply generally to lenders extending consumer credit to active-duty service members, their family members, or dependents. The new rules provide safe harbor methods for identifying borrowers covered by the MLA, bans the use of certain practices, and changes the language of required disclosures. The new rules also contain important provisions about administrative enforcement, penalties, and remedies.



Dowse B. (Brad) Rustin, IV

Dowse B. (Brad) Rustin, IV

Nelson Mullins Riley & Scarborough LLP

  • Chair, Financial Services Regulatory Practice, Nelson Mullins Riley & Scarborough LLP
  • Works with financial institutions, state-licensed lenders, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance
  • As the regulatory environment facing financial institutions has changed and increased in complexity, he now spends most of his time counseling financial institutions in regulatory matters, including strategic agreements, product development, and operational compliance
  • Speaks regularly in both legal and industry groups on matters of financial regulation and regulatory compliance
  • Regularly publishes articles, speaks on topics, and provides insight on matters of financial regulatory compliance (list available at
  • Certified by the American Bankers Association as a Certified Regulatory Compliance Manager (CRCM)
  • Certified by the Association of Certified Anti-Money Laundering Specialists (ACAMS) as a Certified Anti-Money Laundering Specialist
  • Recognized by the Financial Times in its annual Innovative Lawyers Survey for 'Creating a New Standard (2019)'
  • J.D. degree, magna cum laude, University of South Carolina
  • Can be contacted at 202-689-2320 (DC), 864-373-2320 (GVL), or [email protected]

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