On October 4th the National Credit Union Administration (NCUA) issued Letter to Credit Unions 16-CU-07 on its examination approach to the new Military Lending Act (MLA). NCUA states “examiners are instructed to accept a credit union’s reasonable and good faith efforts to comply with the new rule during the first examination following the implementation date. NCUA recognizes that some credit unions may need time to implement changes and work with their technology vendors to resolve problems that may arise from extensive testing and use, once their new MLA systems become fully operational"
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