The MLA Final Rule states it is the financial institution’s responsibility to confirm an applicant’s MLA Covered Borrower Status in accordance with the changes made to the Military Lending Act of 2016. ProMax’s solution automatically checks your buyer’s MLA Covered Borrower’s Status from the Department of Defense’s database whenever a Credit Bureau is pulled.

If your customer is covered, you’ll see it noted throughout ProMax: in the CRM, in Desking, and on the Credit Bureau itself. If you desk a deal that’s out of compliance, you’ll get a popup telling you so.