Upcoming Webinar: Military Lending Act Compliance – What Pawnbrokers Need to Know

Join Equifax on Thursday, February 22, 2018 at 2:30 PM ET for a free and informative webinar focusing on the Military Lending Act (MLA), what it means for pawnbrokers, and how Equifax can help. The Military Lending Act (MLA) provides a safe harbor to pawnbrokers if they verify “covered borrower” status for every pawn loan. [Read More…]

Military Lending Act: Compliance for Pawnbrokers

Compliance with the Military Lending Act (MLA) may not be on the radar of many pawnbrokers, but it should be and here’s why. If you’re a pawnbroker, and you’re providing loans without first determining if the consumer is an active-duty military service member—or the dependent of one—your business could be at risk of non-compliance with [Read More…]

Military Lending Act – Credit Card Compliance

In 2006, Congress passed the Military Lending Act (MLA) to help protect active duty service members and their dependents from predatory lending. In 2015, the Department of Defense (DOD) issued a final rule amending the MLA to cover a wider range of credit products impacting traditional creditors like banks and credit unions. The DoD’s Final [Read More…]

Webinar On Demand: Military Lending Act – Credit Card Compliance

The next phase of The Military Lending Act (MLA) Final Rule will take effect October 3, 2017, requiring credit card issuers to include a determination of an applicant’s military “covered borrower” status for all covered consumer credit applications. Will you be ready? Join Equifax for an informative webinar to help you better prepare for MLA [Read More…]

Final Reminder: Military Lending Act – Credit Card Compliance Webinar

The next phase of The Military Lending Act (MLA) Final Rule will take effect October 3, 2017, requiring credit card issuers to include a determination of an applicant’s military “covered borrower” status for all covered consumer credit applications. Will you be ready? Register now to join Equifax on Thursday, June 15 at 2:00 pm ET [Read More…]

Register Now: Military Lending Act – Credit Card Compliance Webinar

The next phase of The Military Lending Act (MLA) Final Rule will take effect October 3, 2017, requiring credit card issuers to include a determination of an applicant’s military “covered borrower” status for all covered consumer credit applications. Will you be ready? Register now to join Equifax on Thursday, June 15 at 2:00 pm ET [Read More…]

MLA Final Rule: Updates based on the August Interpretative Rule

As the Department of Defense’s (DoD) Military Lending Act (MLA) Final Rule (also known as the July 2015 Final Rule) takes effect October 3, 2016, many lenders are still struggling to understand just how these updates will impact them. Are their loans covered? Are they not? Do they need to create two sets of disclosures, [Read More…]

MLA Covered Borrower Status – Are you Ready for Oct. 3?

Beginning October 3, 2016, the burden will now be on financial institutions—not applicants—to confirm an applicant’s MLA covered borrower status in accordance with the changes made to the Military Lending Act (MLA) of 2006. The following questions can help you determine if this change applies to your financial institution. Do you provide consumer credit to [Read More…]