As we conduct training across the country on the Military Lending Act (MLA), there seems to be this ongoing confusion about the Safe Harbor provided by the Act, specifically, what it is and how it works.
In a nutshell, the MLA was enacted to provide protections for active duty service members and their dependents. This means there is some red tape and restrictions when it comes to those borrowers. The safe harbor gives the bank some protection as long as they are willing to jump through a few hoops.
Listen to the video as Jerod explains more.
The MLA Safe Harbor is just one of the many things that we will be discussing at our upcoming “Military Lending Act” webinar. This one-hour webinar will look at all the red tape, the provisions and the restrictions that come into play. As always, we will get you the information you need to know in plain English. Register today!
Looking for other lending tools? Find them here – https://store.bankerscompliance.com/link/LendingFD
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar, or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups, and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.
Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!