Military Lending Act Safe Harbor

When we conduct compliance reviews or answer compliance questions, it’s pretty common to see misunderstanding and/or confusion surrounding the safe harbor provision found in the Military Lending Act (MLA). More specifically, what the safe harbor 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 a financial institution must follow when it comes to those borrowers. The safe harbor provides some protection as long as a financial institution is willing to jump through a few hoops.

Jerod explains more in the video.

 

 

Lending Resources!

Published
2024/03/12
Jerod Moyer
Jerod Moyer

Jerod Moyer

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!

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