Understanding Changes to the Military Lending Act Regulations
12.03.2015 - 12.03.2015 (lending)
1 p.m. CST Online via Adobe Connect
Everyone recognizes the special role our military personnel plays in our nation’s life and we all strive to treat active duty and veterans with the respect they deserve. Well, respect isn’t all they are entitled to receive today. The Department of Defense has issued a final rule amending the implementing regulations of the Military Lending Act of 2006. The final rule expands specific protections provided to service members and their families under the MLA and addresses a wider range of credit products than the previous regulation. Join veteran credit union attorney David Reed as he highlights the changes and reviews the details of this important area of lending compliance so that your credit union is prepared.
This session will cover:
- Key changes to the Military Lending Act
- Analysis of the new extended protections
- Taking advantage of available safe harbors
- Important implementation dates
- A survey of MLA compliance resources
Our Speaker: David A. Reed, Esq. - Reed & Jolly, PLLC
Attorney, author, consultant and nationally recognized speaker, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC and founder of CU Doctor, a full service credit union consulting practice. Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. His engaging speaking style has garnered him status as a regular lecturer nationwide on topics such as regulatory compliance, consumer lending, bankruptcy and collections. And, he offers facilitation services and a full range of on-site training programs that can be delivered to the Board, executive team, managers or frontline staff.
A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed is particularly noted as an expert in the areas of credit union operations, bankruptcy and collections. He has been selected to train NCUA Field Examination and Audit Staff on numerous issues including ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management and Bankruptcy matters. He also serves as editor of several industry manuals including Collections Manual for Credit Unions and Bankruptcy Guide for Credit Unions.
Mr. Reed received his undergraduate degree from Virginia Tech in 1986 and his Juris Doctorate from George Mason University School of Law in 1989. He is a Certified Compliance Officer. He resides in Fairfax, Virginia with his wife Diane and their twin daughters. Also a member of the credit union family, his wife, Diane, is President of CU Doctor, LLC.
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