Credit Unions Seeking MLA Clarifications
Since the majority of the Military Lending Act (MLA) changes went into effect last October, many financial institutions are still struggling with several issues. Credit unions are seeking clarification with purchase money loans, ancillary products, and statutory liens to name a few. Also, credit card provisions are scheduled to take effect in October of this year, and credit unions are expecting clarification before implementation. [2/17/17]


