The Military Lending Act
6 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
Enacted in 2006, the Military Lending Act regulates what lenders can and cannot do when working with service members and their dependents.
What this course covers:
- Why the MLA was created to stop predatory lending
- The protections the act provides
- Who qualifies for MLA protection
- Which types of loans the act covers
For lenders and compliance staff who extend credit to military borrowers.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
Enacted in 2006, the Military Lending Act was created to stop predatory lending, and the course explains the circumstances that led lawmakers to regulate how lenders work with service members and their dependents specifically. This detail sits at the center of what the Military Lending Act course is meant to teach.
The course details the protections the act provides, outlining what lenders can and cannot do when extending credit to service members and their dependents under Military Lending Act rules and requirements. It is one of the specific points the course on the Military Lending Act walks through in depth.
It explains who qualifies for MLA protection, giving lenders and compliance staff clarity on which borrowers fall under the act's coverage before a loan is extended or a contract is finalized. The course keeps this grounded in the practical realities covered under the Military Lending Act.
The course covers which types of loans the act applies to, helping compliance staff determine when Military Lending Act rules govern a given lending transaction involving a covered borrower. This is a core thread the Military Lending Act material returns to throughout the lesson.
It is intended for lenders and compliance staff who extend credit to military borrowers, giving them the regulatory background needed to lend within Military Lending Act requirements and avoid violations. It reflects the kind of applied detail the course builds into its coverage of the Military Lending Act.
