Banking Military Personnel

on "July 15, 2021 2:35 pm"

Get details of the Servicemembers' Civil Relief Act (SCRA) and Military Lending Act (MLA), and provide best practices for complying with the requirements.

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Banking Military Personnel
Friday, July 23, 2021
5:00 am - 6:00 am HST (OnDemand playback is included.)

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A financial institution's activities regarding the Servicemembers' Civil Relief Act (SCRA) and Military Lending Act (MLA) can result in operational, compliance, strategic, and reputation risks. The SCRA was enacted to provide protections to servicemembers to enable them to devote their time and energy to serving our country by limiting certain actions regarding their loans. Similarly, the MLA limits the amount that creditors may charge, including interest, fees, and charges imposed for credit insurance, debt cancellation and suspension, and other credit-related ancillary products sold in connection with the transactions. In this jam-packed session, we will review the details of each of these Acts, and provide you with best practices for complying with the requirements. We will walk through the necessary steps you need to take at the time an application is taken, when a loan becomes delinquent and when you become aware that your borrower meets the definition of a "covered borrower" under each of the Acts. Sample policy language and other tools to facilitate compliance with these requirements will be provided.

Covered Topics

  • Understand the background and requirements of the MLA and SCRA
  • Identify covered borrowers
  • Detail the primary lending provisions of the SCRA
  • Review of the types of credit covered by the regulations
  • Understanding how the components used to calculate the MAPR
  • Timing and format of required disclosures
  • Avoiding the penalties for non-compliance

Who Should Attend?

This informative session is designed for branch managers, consumer loan officers, loan operations personnel, compliance officers, and internal auditors.

About The Presenter

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years' experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits, and exams, and presented for numerous state associations.