Explains the background and purpose of the U.S. Department of Defense's (DoD) Military Lending Act (MLA) regulation. Defines key terms in the regulation - "creditors" and "covered borrowers."

Provides resources to conclusively determine if someone is a covered borrower. Explains the characteristics of loans covered under the MLA, including loan types, Military Annual Percentage Rate (MAPR) requirements, and other loan requirements. Identifies disclosure requirements and penalties for noncompliance.What You'll Learn:After completing this course, students will gain a fundamental understanding of MLA including:

• Explain the background and purpose of the Military Lending act (MLA) regulation
  
• Identify a covered borrower
  
• Explain characteristics of loans covered by the MLA
  
• Identify the disclosures that covered borrowers must receive under the MLA regulation
  
• Explain the penalties for noncompliance

You have 6 months to complete the course and gain your printable certificate. Course Length: 35 minutes