NCUA to host webinar on changes to Military Lending Act regulations
Learn more about enhanced protections for service members and their families
ALEXANDRIA, VA (June 2, 2016) — The National Credit Union Administration will host a webinar, “Preparing to Comply with Regulatory Changes to the Military Lending Act,” on Wednesday, June 29, starting at 2 p.m. Eastern.
During this webinar, staff from NCUA’s Office of Consumer Protection will provide a high-level overview of the significant changes to the regulation implementing the Military Lending Act, most of which go into effect by Oct. 3. The law now covers most non-mortgage-related consumer credit extended to active duty service members and certain dependents.
The webinar will review topics like:
- Transactions the rule covers, including credit card accounts;
- Who is covered under the rule’s protections;
- How to determine who is a covered borrower; and
- How the new rule applies to NCUA’s rule on payday alternative loans.
Online registration for this 90-minute webinar is now open here. Participants will use this same link to log into the webinar. Registrants should allow pop-ups from this website. There is no charge for participating in this webinar.
Prior to the webinar, participants are encouraged to review two NCUA Regulatory Alerts issued in March 2016 and October 2015. These alerts explain the scope of the new rules, the safe harbors available to credit unions and other details to help bring credit unions into compliance before the rule’s effective date. They also provide information about the compliance resources available on NCUA’s and the Consumer Financial Protection Bureau’s websites.
Participants may submit questions in advance at WebinarQuestions@ncua.gov. The subject line of the email should read, “MLA Regulatory Amendments.” Participants with technical questions about accessing the webinar may email firstname.lastname@example.org. NCUA will closed caption and then archive the webinar online here approximately three weeks following the live event.
NCUA’s Office of Consumer Protection handles consumer protection compliance policy and rulemaking, chartering and field of membership, fair lending examinations, consumer complaint resolution, interagency coordination and outreach and the agency’s financial literacy programs.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.