This Military Lending Act online training course was originally enacted in 2006 and is implemented by the Department of Defense. The Act protects active duty members of the military, their spouses, and dependents from certain lending practices. These practices could pose a risk for servicemembers and their families, a threat to military readiness and affect servicemember retention. This course provides details on the definitions, applicability, procedures and laws regarding the Military Lending Act. This course is intended for all lending department personnel and compliance professionals.
Course Learning Objectives:
By taking this online Military Lending Act course, the user will learn:
- Know which loan applications apply to the MLA
- Determine if your applicant is a covered borrower in the appropriate manner and timing
- Understand and explain the protections the MLS provides to covered borrowers
- Ensure compliance with the laws
This online Military Lending Act course is made up of the following sections:
- Covered Loans
- Cover Borrowers
- Determining a Covered Borrower
- Disclosure Requirements
- Other Limitations
This Military Lending Act training course was designed for bank employees including lending department personnel and compliance professionals.
If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.