Military Lending Act (MLA) Policy – 9 Pages – 2100 Words

The policy outlines the organization’s commitment to comply with the Military Lending Act (MLA), ensuring protections for eligible service members and their dependents in their credit dealings. It applies to all credit products and services offered by the organization and aims to establish a clear framework for compliance with the MLA’s requirements. Key aspects of the policy include the identification of covered borrowers, limitations on the Military Annual Percentage Rate (MAPR), and mandatory disclosure requirements to inform borrowers about credit terms and conditions.