Electronic Disclosures & Military Lending Act

Question: 

Can the Military Lending Act Statement be provided electronically?

 

 

Answer:

The Regulation does not address providing disclosures electronically. This omission could be interpreted to mean that as long as you provide the disclosure in writing and in a form a covered borrower can keep (even if electronically), this is sufficient.  In our opinion, we would recommend following E-SIGN requirements, especially since you will need to do so under Regulation Z anyway.

 

Join us for the Military Lending Act Webinar on August 22, 2019. We will answer all the questions submitted during the live webinar, in writing.

 

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Published
2019/07/23

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