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Service member Issues: The Military Lending Act & SCRA A web based seminar Wednesday, February 22, 2017 1:30 pm 3:30 pm, Central Time Recommended for 2.5 CE Credits Program Content: Service member
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Who needs form military lending act?
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Active duty service members of the military
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Dependents of active duty service members
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Certain Reserve and National Guard members on active duty orders
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What is form military lending act?
The Military Lending Act (MLA) is a federal law that provides protections for active duty service members and their dependents in connection with consumer credit.
Who is required to file form military lending act?
Lenders who provide consumer credit to active duty service members and their dependents are required to comply with the MLA and fill out the necessary forms.
How to fill out form military lending act?
To fill out the MLA form, lenders need to provide information about the terms of the loan, the service member's military status, and any other relevant details.
What is the purpose of form military lending act?
The purpose of the MLA is to protect service members from predatory lending practices and ensure they are not charged excessive interest rates or fees.
What information must be reported on form military lending act?
The MLA form requires lenders to report details about the loan, including the amount borrowed, the interest rate, and any fees charged.
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