Servicemember issues have been in the news for a few years now. Financial Institutions have been taking great care not to treat servicemembers and their family members less favorably, due to the great compliance and reputation risks problems in this area present. But what exactly are the rules?
The Servicemembers Civil Relief Act (SCRA) is the most well-known, of course. But there are other considerations, such as fair lending and even UDAAP. And the new Military Lending Act (MLA) regulations have kicked in. These rules will introduce significant new requirements for ALL lenders, whether they know it or not yet. Lenders that believe they don’t have issues to deal with for military customers may unfortunately be taken by surprise.
Does your institution know the rules, and what to do and not do? This webinar is designed to address all these issues, and especially the new MLA rules, so you can be prepared. Know what it means to reduce the interest rate on active duty borrowers to 6%, as well as various other protections against foreclosure and other areas. Know how to determine whether you have a "covered borrower" under the MLA and SCRA, as the standards are different.
We'll also talk about some of the more-recent enforcement actions taken against other institutions, to learn from others' mistakes.
The "Servicemember Issues: The Military Lending Act & SCRA" webinar has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. To receive a certificate, email firstname.lastname@example.org. Certification holders must report these credits at https://aba.csod.com.
Who should attend
Anyone in the institution that might encounter Servicemembers and Servicemember accounts. This includes frontline staff, managers, auditors, lenders, and underwriters.
"This has been the best webinar I've attended. The instructor is very knowledgeable!" -- Andrew Olker, Superior Choice Credit Union
Servicemember Issues: The Military Lending Act & SCRA has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email email@example.com. Certification holders must report these credits at https://aba.csod.com.