Deadline for Military Lending Database Access

The new Military Lending Act (MLA) regulations require banks to determine military status for applicants applying for consumer credit other than a mortgage or purchase money loan.  Lenders who verify military status through the U.S. Department of Defense (DOD) database or a nationwide credit bureau will be provided a compliance safe harbor.  By February 1, 2016, bankers must email dodhr.dodc-mb.dmdc.mbx.mla@mail.mil  and advise DOD that the bank is interested in direct access to the DMDC database, an electronic catalogue containing the history of military personnel, to determine military status for purposes of MLA compliance.