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#2145491 - 09/11/17 09:24 AM Credit Line Increase and MLA
Minion Offline

Registered: 06/03/15
Posts: 63
Loc: Virginia
When a borrower requests a credit line increase to their credit card we treat it like a new application. Currently we run the credit and if we approve the increase it is effective immediately to their card. The problem now with MLA is that when we run credit and find out that they are a covered borrower we are required to give the disclosure prior to the borrower becoming obligated. Does anyone else treat these like new applications and if so how you presenting them with the written MLA statement prior to use of the increase?

Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2145748 - 09/12/17 05:31 PM Re: Credit Line Increase and MLA [Re: Minion]
IT_Banker Offline
New Poster

Registered: 01/08/15
Posts: 8
Loc: Midwest
We treat credit line increases in the same manner that you do. We recently overhauled our application to include the required MLA verbiage - and since the member would be signing the new application and receiving the new T&C (which also include the required MLA verbiage), we believe that we would be covered.
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