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Webinar: Expanded Financial Protections Under the New Military Lending Act, Including SCRA Update

Tue, Sep 8, 2015

Columbia, Maryland

On July 22, 2015, new changes to the Military Lending Act (MLA) were adopted by the Department of Defense, which, for the first time, expand the MLA’s coverage to most credit unions.  In addition, the required disclosures have been modified and the types of service members covered have increased.  These are drastic changes, which are effective on October 1, 2015.  Fortunately, compliance is not required until October 3, 2016, for most consumer loans (October 3, 2017, for credit cards).  The penalties for a violation will be severe – damages of not less than $500 per violation, plus punitive damages and attorneys’ fees.

This webinar will explain what your credit union needs to know about these new changes to the MLA, and how you can prepare.  This program also will explain how the MLA operates in conjunction with the Servicemembers Civil Relief Act (SCRA).  It is available starting SEPTEMBER 21.

HIGHLIGHTS

  • Which requirements of the MLA apply to your institution?
  • What is the effective date for compliance?
  • What are the required disclosures and when must they be given?
  • Which service members and dependents are covered by the MLA?
  • How to qualify for the safe harbor provisions
  • SCRA overview
  • TAKE-AWAY TOOLKIT
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.  Available ONLY via Archived Webinar (Includes FREE CD ROM).

WHO SHOULD ATTEND?

This informative session is designed for all loan personnel, including loan officers, loan operations, credit administration, managers, collectors, compliance officers, and attorneys.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP

Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions.  Elizabeth is the head of the firm’s training division.  She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University.  In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant.  Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.  She is a member of the Missouri State Banking Board by appointment of the Governor.

AVAILABLE VIA ARCHIVE ONLY

ARCHIVED WEBINAR (Beginning January 1, 2016, CDs replaced with digital download*)

 

The archived webinar is a recording that includes the audio, visuals, and handouts.  We even provide the presenter’s email address so you may ask follow-up questions.  You will receive an email with the archived webinar link.  This webinar link can be viewed anytime 24/7, and will expire 6 months after the live program date.  The archived webinar may ONLY be ordered for 6 months following the original availability date.  It will not be available after this time. 

*For archive orders for 2015 webinars placed before December 31, 2015, you will also receive a free audio/visual CD ROM.**  The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  CDs will no longer be provided for archived orders placed after January 1 and all 2016 webinars.  However, you will receive instructions on how to download a digital copy of the webinar which you may keep and use indefinitely.

Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.

AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE   

*CD ROM is for Mac and PC use only