DoD Reports MLA Website Malfunction

Due to a malfunction, the Department of Defense’s Military Lending Act website was unable to process a total of 149 request files between Feb. 9 and Feb. 15, according to a notice posted on the site. The DoD recommends that creditors who submitted multiple record request files between those dates re-submit their files for processing.

Under the MLA final rule, verifying credit information using the MLA website is one of the safe-harbor methods creditors can use to conclusively determine whether a credit applicant is covered under MLA protections. Lenders are required to verify whether a loan applicant is covered under the MLA to make certain borrowers receive appropriate disclosures and protections. For more information, contact ABA’s Nessa Feddis.

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About Author

Evan Sparks

Evan Sparks is editor-in-chief of the ABA Banking Journal and vice president for publications at the American Bankers Association.