Compliance Obligations of Financial Institutions Concerning Services to Military Personnel and Veterans

Why Should You Attend:

Banks and Credit Unions typically have codes of practice concerning the way customers who are serving military personnel, reservists, or veterans are treated. This is to ensure compliance with the relevant laws, but also typically reflects the financial institution’s own values and policies, and considerations of reputational risk.

In this webinar you will become aware of the kinds of cases that have given rise to concerns about the treatment of customers who are serving military personnel, reservists or veterans. You will learn what the rules are concerning these customers (for example, restrictions on interest rates charged, mortgage foreclosures, and auto loan repossessions); and gain a fuller understanding of the obligations of employees concerning these customers.

Areas Covered in the Webinar:

• Duties imposed on banks and credit unions by applicable laws, including the Service Members Civil Relief Act (SCRA) and the Military Lending Act
• Examples of issues that have arisen concerning compliance with SCRA, the Military Lending Act, and other relevant laws and regulations
• The rules concerning permitted interest rates
• The rules concerning mortgages and mortgage foreclosures
• The rules concerning auto loan repossessions

Who Will Benefit:

• Employees and managers in banks or credit unions who make decisions concerning customer transactions, especially those with supervisory responsibilities
• Compliance staff and management
• Employees and managers with designated responsibilities for customers who are serving military personnel, reservists or veterans

Michael Tyler
Managing Director, Tyler and Company

Executive, adviser & board member in technology-based businesses, especially in in banking/ financial services; and information technology, telecom and other high-tech industries. Specialist expertise in Risk management, regulation and compliance for banking & financial services; and in big-data analytics. 35+ years’ experience in US, Canada, Asia/Pacific, UK and Europe. Results accomplished include: (a) building of custom Management Information applications in the fields of Risk, compliance and expense management, for major multinational banks based in the US and UK; (b) key contributions to planning of large infrastructure projects: e.g. Southern Cross undersea fiber-optic cable network, Australia & New Zealand to US; and (c) $12 bn+ of structured finance for telecom; electric power; aviation & ground transportation, e.g. for Bay Area Rapid Transit (BART); British Telecommunications (BT) and Citicorp.

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