Content Update: Compliance Alliance Revises Lending to Service Members Policy
September 30, 2016
Compliance Alliance has revised its “Lending to Servicemembers Policy” (“Policy”), effective September 29, 2016. The revised Policy provides guidance on certain questions regarding compliance with the July 2015 final rule. Furthermore, a technical correction has been made to address the prepayment penalty limitation under the MLA rule. The revisions are highlighted in green. Please make sure to update your bank’s policy content to include these revisions. For any questions or concerns, please don’t hesitate to contact us online or at 888-353-3933.