Tag Archives: Military Lending Act

Agencies Update Exam Procedures to Incorporate MLA Updates

The federal banking agencies today issued updated interagency examination procedures for the amendments to the Military Lending Act rule, which extend MLA restrictions to cover credit cards, lines of credit, installment loans and deposit advances offered to service members and their dependents.

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Trades Raise Concerns About MLA Compliance Timeline

The American Bankers Association and several financial trade associations today wrote to the heads of the federal regulatory agencies raising concerns about the fast-approaching compliance deadline for changes to the Department of Defense’s Military Lending Act rule.

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OCC Stresses Third-Party Risk Management in Military Banking

In remarks at the Association of Military Bankers’ annual workshop today, OCC Senior Deputy Comptroller Grovetta Gardineer stressed the importance of ensuring that all military service members and their families receive the consumer protections they are entitled to under the Servicemembers Civil Relief Act.

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