Description
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
