Compliance: MLA credit card fee spreadsheet updated for 1Q 2019

CUNA has updated its Military Lending Act (MLA) credit card fee spreadsheet for the first quarter of 2019. The updated resource can be found in the CUNA Compliance Community’s “Compliance Resources” tab, and under the “Resources” tab in CUNA’s MLA e-Guide.

The spreadsheet is necessary because a credit union may exclude a bona fide credit card fee from the military annual percentage rate (MAPR) if the fee is considered “reasonable,” under the MLA rule.

This means that the fee must be less than or equal to the average fee for the same or similar product charged by five separate card issuers that each have at least $3 billion in outstanding credit card balances at any time during the three-year period preceding the time the average is determined.


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