CUNA Updates MLA Card Fee Comparison Spreadsheet
Thursday, September 27, 2018
WASHINGTON—CUNA has updated its Military Lending Act (MLA) credit card fee comparison spreadsheet for the third quarter, updated as of September 2018.
The updated resource can be found in the CUNA Compliance Community’s “Compliance Resources” tab, and under the “Resources” tab in CUNA’s MLA e-Guide.
This update is necessary because, under a safe harbor in the MLA rule, a credit union may exclude a bona fide credit card fee from the military annual percentage rate (MAPR) if the fee is considered “reasonable,” CUNA explained.
Read More >>>