A debate has started at my office as to who the MLA applies to and what is meant by active duty. SCRA is easier because you have orders to review. What about the MLA? If you are a career military person and not currently "deployed on a mission", isn't that still active duty and the MLA applies? Sso in theory there is no "expiration" date for the MLA status.
Are banks keeping the MLA status on the account indefinitely and not checking the status of the borrower again until time of collection? That is what we are proposing internally.
Thoughts?
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Compliance Chick