Question: Can a consumer loan be covered by both Servicemember Civil Relief Act (SCRA) and Military Lending Act (MLA) at the same time?
Answer: Generally, no, the two should be exclusive. SCRA protections apply to consumer or commercial loans that the covered servicemember entered into BEFORE active duty service. MLA protections apply to covered consumer loans entered into by a covered borrower DURING active duty.
Copyright © 2016 Compliance Action. Originally appeared in Compliance Action Vol. 21, No. 11, 10/16
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