Archived Webinar

MLA Auto Lending Problem Update
A NorthLegal Webinar presented November 20, 2018
Duration: Appproximately 1:50 hours:minutes

Cost | How to Attend | How to Obtain Handouts Register

What is your financial institution doing about its Military Lending Act auto lending problem? XX

Almost a year ago the federal Department of Defense issued an interpretive rule that said tens of thousands of auto loans previously thought to be exempt had to comply with the MLA. That ruling left financial institutions around the country (very possibly including yours) holding tens of thousands of direct and indirect loans that are—according to the DoD—now void.

Since then, we've heard talk of imminent changes to the law or to that interpretative rule, but those changes have not occurred and there is no indication they will occur soon. Meanwhile, the problem isn't going away. It has been addressed during supervisory examinations and reportedly has been discussed at high level meetings on at least one military base.

Financial institutions holding affected loans have to decide what to do with them. There is no such thing as taking "no action;" each time you send a collection letter (or even a periodic statement) your financial institution is taking action. If the DoD intepretation stands, those actions may violate multiple state and federal laws and result in serious class litigation.

There are no good solutions, but careful planning may help your financial institution manage the risk and minimize losses.

During this NorthLegal webinar, participating financial institutions will learn:

Participants will also receive sample correspondence, including:


NOTE: This program is intended only for employees of consumer lending institutions. Please contact NorthLegal Training and Publications to obtain approval before registering if you are not an employee of a consumer lending institution.

The fee to attend this archived program is $190.00 if paid by credit card or $200.00 if paid by check. For that fee, you or someone from your financial institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for 180 days! Contact NorthLegal for information.)

How to Attend a Prerecorded Webinar | How to Obtain Handouts
To attend this NorthLegal Webinar, please do the following:

Register.  To register online using a credit card, visit the "Enroll Now" link shown in the box at the top of this page. To register by mail, call NorthLegal at 623.537.7150.
Check your email. Within moments after you complete the registration process you should receive two emails.  One will be a receipt for the transaction and the other will contain a link and detailed instructions explaining how to use that link to attend the program. 
Download the handout materials by clicking here.
Call NorthLegal to obtain the password to open the handout materials.
» NorthLegal Webinars
Speaker: Eric North

Eric North, the primary speaker at the programs listed on this site, has represented the interests of credit unions and other financial institutions as an attorney with respect to litigation, compliance, governance, bankruptcy and collections matters since 1984. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.

Eric is also a nationally recognized speaker on legal issues relating to consumer lending institutions, and has presented hundreds of programs on behalf of national, state and local leagues and associations from around the country.

Live program scheduling conflict?

No problem! Registration for a NorthLegal webinar automatically entitles you to watch it live AND to watch the archived version as many times as you like for 180 days! 

If you or your staff can't make the live program, you still have plenty of time to watch when it is more convenient for you!