News & Analysis as of

Military Lending Act Banking Sector Credit Cards

Ballard Spahr LLP

Defense Dept. rejects trade group’s request for extension of Oct. 3 MLA compliance date for credit cards

Ballard Spahr LLP on

The Department of Defense (DoD) is reported to have rejected the request of the National Association of Federally-Insured Credit Unions (NAFCU) to extend the October 3, 2017 date for credit card compliance with the Military...more

Burr & Forman

Military Lending Act Compliance

Burr & Forman on

On October 3, 2017, the Department of Defense’s revised Military Lending Act (“MLA”) regulations will apply to consumer credit card accounts. These regulations require significant changes and will alter the landscape of how...more

Ballard Spahr LLP

FDIC Releases Revised MLA Exam Procedures and Sets Supervisory Expectations

Ballard Spahr LLP on

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The revised procedures...more

Morrison & Foerster LLP

DOD Proposes Significant Expansion of Military Lending Act Protections

On September 29, 2014, the Department of Defense (DOD) published a proposed rule in the Federal Register to amend its regulation implementing the Military Lending Act (MLA), 32 C.F.R. Part 232, to significantly expand the...more

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