Military Lending Act Compliance

In July 2015, the Department of Defense (DoD) released its final rule amending regulations under the Military Lending Act (MLA). The new rule vastly expands the number and types of products that are subject to the MLA. Credit unions that weren't covered before must now develop rigorous MLA compliance policies and procedures before the majority of the changes must be implemented, starting October 3, 2016.

Below you'll find credit union resources for MLA compliance implementation, including compliance guide, final rule summary, insightful blog posts, articles and webcasts, to help you get up-to-speed. (Resources marked by * are member-only. If you are not a NAFCU member, learn more about membership.)

Compliance Deadline: October 3, 2016

(Credit card compliance deadline is October 3, 2017)

Download PDFNAFCU Final Rule Summary*

Download PDFMLA Second Interpretative Rule Redline*

[VIDEO] Military Lending Act Info, Issues, and Advocacy (September 19, 2016)

Guides & Tools

Download PDFComplete MLA Compliance Guide*
Updated September 2016 with more details and answers to FAQs! A helpful compliance reference for credit unions that addresses many key areas of the DoD's MLA Rule including credit cards, security interests and calculating the MAPR.

Download PDFMLA Scope & Applicability Chart*
A handy resource detailing the background, scope and exemptions for the new MLA requirements.


Webcasts & Conferences

NAFCU Compliance Blog Posts

Read all MLA-related blog posts on The NAFCU Compliance Blog

Department of Defense MLA Chart

MLA Chart | Source: