Tag Archives: military banking

ABA Urges Lawmakers to Include Military Banking Provision in Final NDAA Bill

As House and Senate lawmakers work to reconcile their versions of the FY 2019 National Defense Authorization Act, ABA -- along with the Independent Community Bankers of America and the Association of Military Banks of America -- today wrote to conference committee members urging them to include in the final bill a House provision that would level the playing field between credit unions and banks serving military bases.

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ABA Calls for Changes to MLA Interpretive Rule Amendments

In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.

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Trade Groups Call for Further Clarification to MLA Rules

ABA and six other financial trade groups wrote to the Department of Defense on Friday urging the department to take additional steps to clarify inconsistencies and confusion that still surround the amended Military Lending Act rules and a subsequent interpretive rule issued by DOD.

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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.

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ABA Hosts Meeting on MLA Amendments

ABA today hosted a meeting with representatives from the Department of Defense, trade associations and financial institutions to discuss ongoing issues related to the Military Lending Act amendments that took effect in October.

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