Learn the background and purpose of the U.S. Department of Defense’s Military Lending Act (MLA), along with definitions of important key words used in the regulation. Get the resources needed to determine whether someone is a covered borrower, and hear an explanation of the characteristics of the loans covered under the MLA including loan types, Military Annual Percentage Rate (MAPR) requirements and more.
What You’ll Learn
After completing this course, students will be able to:
- Cover the background and purpose of the MLA
- Discuss characteristics of loans covered by the MLA
- Identify the disclosures that covered borrowers must receive under the MLA regulation
- Explain the penalties for non-compliance
ABA Professional Certifications: 0.75 CRCM
Carl Pry, J.D., CRCM, CRP
Carl Pry, Managing Director of Treliant, is a seasoned executive with banking law, corporate finance, and regulatory compliance experience in Fortune 500 financial institutions, regional banks, and industry consulting firms. He advises clients on commercial compliance, fair lending, corporate treasury, and risk management.
For more than 25 years, Carl has held senior leadership positions at KeyBank, Accenture, and Kirchman Corporation. He serves on the Editorial Advisory Board and contributes to the ABA Bank Compliance magazine. He has led many training sessions and examiner classes across the country and been the featured speaker for numerous banking, compliance, and state bar associations. Carl has also authored training programs covering consumer and commercial compliance, audit, quality control, tax, privacy, and risk management.
Created: February 2022
Approximately 35 minutes