MLA/SCRA Support

Canopy now has comprehensive support for the Service Civil Relief Act (SCRA) and the Military Lending Act (MLA), enabling automatic interest rate adjustments for active-duty military personnel on installment loans.

This new API endpoint allows lenders to apply the federally mandated 6% interest rate cap for SCRA or 36% interest rate cap for MLA retroactively from the military service start date, with full support for both ongoing and concluded service periods.

The system automatically handles complex scenarios including mid-cycle adjustments, retroactive interest corrections through debit offsets, and proper accounting for the duration of military service. This feature ensures compliance with federal regulations while streamlining the operational process of supporting our military customers, reducing manual intervention and ensuring accurate interest calculations throughout the service period.

Click here to visit our docs and learn more.