On 12/27/21, the Department of Defense issued a notice to the public of a scheduled change to the Military Lending Act (MLA) Database. Effective February 1, 2022, cadets and midshipmen attending Military Service Academies of the Armed Forces, who are covered borrowers under the MLA, will be added to the population of covered borrowers identified in the MLA database. This is actually a correction of an error in the database's original development.

This change to the MLA database is administrative in nature and does not change the current MLA regulation nor does it change the status of the cadets and midshipmen attending the Military Service Academies of the Armed Forces. Thus, the announcement is not subject to notice and comment rulemaking under the Administrative Procedures Act (APA).

See the full notice here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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