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Course description

Military Lending Act.

WHY?
This information-packed program provides last minute preparation for the October 3, 2016 mandatory compliance date. This program also points out MLA problem areas and proposes practical solutions to those problems. Participants receive a detailed manual.

PROGRAM CONTENT
Upon completion of the program, participants should understand:

Upon completion of the program, participants should understand:

  • How to determine whether a transaction is covered or exempt;
  • How to determine and verify which applicants are "covered borrowers," including use of:
    • The DoD database;
    • Credit reports; and
    • Other methods
  • How to identify dependents of a covered member;
  • Required disclosures, including:
    • Content of the disclosure;
    • Timing of the disclosure; and
    • Written and oral delivery;
  • How to calculate the MAPR and ensure compliance with the 36% limit on the MAPR:
    • Complying with the 36% limit is a bigger challenge than it first appears;
    • Alternative calculations if loan origination and/or core accounting software is not up to the task;
      • APRWIN software;
      • Calculator, pen and paper;
  • Limitations on creditor acts or practices:
    • Which of the limitations apply to financial institutions?
    • Clarification of the prohibition on taking an account or a certificate of deposit as collateral;
  • Implementation issues, including:
    • The need for policies and procedures;
    • The capabilities of loan origination and core accounting software;
  • Recordkeeping requirements;
  • The effective and mandatory compliance dates; and
  • Penalties and remedies.


WHO?
The program is designed for loan officers, compliance officers, loan processors and clerks, auditors, and everyone else with responsibilities related to consumer lending. The whole consumer lending team needs to participate in this 11th Hour program



Instructor(s)

Compliance Gurus

Jack Holzknecht and Kelly Owsley

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 39 years. In Jack's 34 years as a trainer over 125,000 bankers (and many examiners) have participated in his live seminars and webinars. Jack's career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by several state bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru."Kelly M. Owsley, CRCM is Director of Training Services for Compliance Resource, LLC. Kelly's career in banking began in 2000. Since then she has worked for financial institutions ranging in asset size from $250 million to $3 billion. Kelly has worked in numerous areas of the financial services industry including retail branch management, lending, product development and training. In addition, Kelly spent three years in a training and development role with CUNA Mutual Group servicing the largest credit union in the United States. Most recently, she served as the Vice President of Compliance, BSA Officer, and CRA Officer for a community bank in Kentucky where she was responsible for implementing and training all compliance related topics. Kelly holds a Bachelor of Science degree in Accounting from the University of Kentucky and is a Certified Regulatory Compliance Manager.

Course curriculum

  • 1

    Video

    • Military Lending - 11th Hour Checklist

  • 2

    Materials

    • Materials

    • Slides

    • Questions and Answers