How the Expansion of the Military Lending Act will Impact You - Recorded Webinar

Financial Institutions

August 17, 2016
by Tim Tedrick, CRCM, CRP, Melissa Blaser, CPA, CRCM, CAMS, CFSA, CFIRS

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Tim Tedrick Tim Tedrick, CRCM, CRP

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Melissa Blaser Melissa Blaser, CPA, CRCM, CAMS, CFSA, CFIRS
Senior Manager

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If you offer consumer credit, you will likely be required to comply with the provisions of the Military Lending Act beginning October 3, 2016. While the John Warner National Defense Act Talent Amendment was limited to three specific loan types that many creditors decided not to offer in order to avoid the compliance challenges, the Military Lending Act expands the coverage to other loan types offered by most creditors. In addition, you shouldn’t forget the Servicemembers’ Civil Relief Act (SCRA), which also provides protections for service members and their families. These laws are highly scrutinized by regulators and should not be put on the back burner; let’s discuss their requirements and the impact on you.

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