Military Lending: SCRA and MLA 2021 | ProBank Austin | 10 December 2021 | Webinar
Venue
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| Event Date | Fri Dec 10 EST (about 3 years ago) |
| Location | Webinar |
| Region | Americas |
Details
Servciemember complaints continue to be one of the most common issues facing financial institutions. Institutions continue to fail to properly enforce provisions that protect military personnel as required by the Servicemembers Civil Relief Act of 2003 (SCRA) and the John Warner National Defense Authorization Act of 2007 (also known as the Military Lending Act (MLA)), laws specific to military members. The SCRA is intended to provide for the temporary suspension of proceedings and transactions that may adversely affect servicemembers’ civil rights during their service, and the MLA imposes limitations on certain consumer loans to servicemembers.
Certainly compliance with the law is expected without qualification, but the fact that SCRA and MLA addresses problems faced by our most deserving customers in times of economic stress makes compliance an ethical and moral obligation as well. This webinar will provide an overview and analysis of the SCRA, the MLA, and interagency guidance on mortgage servicing practices regarding military homeowners, as well as commenting on other areas that are not specific to the military, but continue to be a source of complaint for servicemembers. This webinar will include a discussion on the following:
SCRA
• Maximum interest rate on debts
• Residential and motor vehicle purchases and leases
• Foreclosure and eviction from bank-owned property
• Notice disclosure required for delinquent loans
MLA
• The type of loans covered
• Disclosure requirements
• Military APR
• Loan limitations
Speakers
2021 Presenter
Anetria Cohen
Vice President, vCard