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Whether your credit union is located on a military installation, situated near one, or simply doing business within your field of membership, it’s likely that military personnel and their dependents are members. It is universally accepted that members of the military have earned an extra level of protection within the financial services industry. Whether it is the rigors of deployment or the economic impact of military service, conducting business with military personnel and dependents has always been subject to special rules that apply from loan initiation through pay off.
Collections is already a high-risk area. The specific protections of the Servicemembers Civil Relief Act (SCRA) and Military Lending Act (MLA) add even more requirements and compliance risk. In addition, the CFPB has a special section that focuses exclusively on military affairs. Does your credit union understand and comply with all the interrelated rules? This webinar on Wednesday, March 28, from 3:00 p.m. to 4:30 p.m., will focus on the protections and requirements surrounding military collections and provide best practices to ensure efficiency and compliance.
For those participating in this webinar, you can expect to learn about:
- Technical collections requirements of the SCRA and MLA
- Comparison of similarities and differences between the SCRA and MLA
- Adding “military sensitivity” to your collections process
- Dos and don’ts of military collections
- Common military collections violations and how to avoid them
After participating in this webinar, attendees will receive: A military collections matrix; CFPB Office of Servicemember Affairs report; regulatory guidance and resources; SCRA and MLA examination questionnaire; employee training log; and a quiz you can administer to measure staff learning and a separate answer key.
This webinar is offered through the League's partnership with the CU Webinar Network. For more information or to register, please click here.