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Banking Military Personnel: MLA, SCRA & Recent Citations

Feb 28 2:00 PM - Feb 28, 2023 3:30 PM
Feb 28, 2023 2:00 PM - 3:30 PM
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Compliance with the MLA and SCRA is not optional. If your financial institution serves military personnel, your programs must meet strict requirements – especially in the lending area. Join this session to learn the ins and outs and ensure our military women and men are protected when banking with you.

Learning Objectives

  • Understand the background and requirements of the MLA and SCRA
  • Identify covered borrowers
  • Detail the primary lending provisions of the SCRA
  • Review the types of credit covered by the regulations
  • Recognize the components used to calculate the Military Annual Percentage Rate (MAPR)

Financial institutions can run afoul of the Servicemembers' Civil Relief Act (SCRA) and Military Lending Act (MLA) which can result in operational, compliance, strategic, and reputational harm. The SCRA was enacted to help servicemembers to devote their time and energy to serving our country by limiting certain actions regarding their loans. Similarly, the MLA limits the amount that creditors may charge for interest, fees, and charges imposed for credit insurance, debt cancellation and suspension, and other credit related ancillary products sold in connection with the transactions.

This fact-filled webinar will review each of these Acts and provide best practices for compliance. It will walk through the steps necessary at the time of application, when a loan becomes delinquent, and when you become aware that a borrower meets the definition of a "covered borrower" under each Act. Sample policy language and other tools to facilitate compliance will be provided. 

Agenda

Speakers

Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Location

Fees

$259.00 

Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

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Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Lending & Collections
  • Compliance
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Event Info