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Answering Your Military Lending Act Questions
Over a month ago, the Military Lending Act (MLA) went into effect and created a major shift in pawn operations for those wishing to remain compliant under Safe Harbor with the Department of Defense’s regulations. The legislation has changed the information and process needed for pawnbrokers to complete transactions with their clientele, yet there are still many questions unanswered for pawnbrokers nationwide.
On Thursday, December 15th at 10:00am PST, Bravo teams up with Jackie Mallett, an attorney who understands the pawn industry and has a deep understanding of the Military Lending Act, to provide an informational webinar where she covers many of the lingering unanswered questions that pawnbrokers have. She will cover the different risk levels, how to handle rollovers & renewals, ways to collect social security numbers confidentially, and other main concerns that pawnbrokers have expressed, with a Q&A session at the end.
About Jackie Mallett : In her financial services practice, she helps companies comply with state and federal laws governing pawnbrokers, mortgage lenders, installment loan lenders, check cashers and other nonbank financial services businesses. A former state regulator for a decade, Jackie was Consumer Finance Chief Counsel at the Ohio Division of Financial Institutions. She has a nationwide practice defending businesses in courts and administrative agencies including the CFPB. Jackie also assists businesses with using the NMLS for state licensing. She received her BS from The Ohio State University and her JD from Case Western Reserve University School of Law.
As a pawn point of sale platform provider that prides itself in compliance and efficiency, we’ve developed a tool within the Bravo platform to streamline the MLA verification process now required of pawnbrokers.
Watch the video below to learn how Bravo’s MLA tool will help you remain compliant:
The intent of the MLA tool inside of Bravo is to help eliminate confusion and margin of error for pawnbrokers nationwide. Learn more about how Bravo can help your store remain compliant by clicking the button below:
Check out our additional resources located on the Bravo Blog to help you be prepared for the MLA:
- Webinar Video : Military Lending Act for Pawnbrokers Basics by Jackie Mallett
- The Military Lending Act (MLA) : Latest News & Considerations to Get Compliant (Provided by Experian)
- Bravo Has Launched Our Military Lending Act Compliance Feature
- Is Bravo compliant with the new Military Lending Act requirements?