Posted by AVCU on 10:32 AM

Recent changes to the Military Lending Act (MLA) take effect on October 3rd.  The Department of Defense (DOD) finalized changes to the MLA rule in July 2015, adding protections on loans made to covered servicemembers. The DOD published guidance on the changes last month, and CUNA has asked the DOD for a 6-month extension of the effective date, or at least a 6-month safe harbor for entities making good faith compliance efforts.

To help credit unions prepare, CUNA is providing a live webinar exploring the impact of upcoming changes. “Changes to the Military Lending Act: Is Your Credit Union Ready?” takes place on September 13th at 2 p.m. (ET).  Speakers include:

• CUNA attorneys Michael McLain and Michael Christians will host the webinar and interpret what the changes mean for credit unions.



Michael McLain

• Casey Hunt from CUNA Mutual Group will discuss the changes’ impact on LOANLINER documents.

Following speakers presentations, participants will be able to ask about the MLA, the changes and best practices for compliance.

Casey Hunt

CUNA and other trade organizations have request that the Federal Financial Institutions Examination Council members (which includes NCUA and the CFPB) delay examinations related to the new rule by 6 months.

Michael Christians

The webinar registration fee is $438, with a 50% discount for CUNA members. Registrants can also access the recorded event for one year.  Non-registrants can also purchase access to the recording.