Blog

By: Roy L. Kaufmann

How Does the SCRA Affect Interest Rates?

The SCRA interest rate is 6%, but knowing when it applies is important. As a banker or lender, you must be especially careful when calculating interest rates on loans to servicemembers. The Servicemembers Civil Relief Act protects servicemembers from some … Read the rest

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By: Roy L. Kaufmann

The SCRA and Foreclosure

The SCRA and foreclosure efforts are closely intertwined.  prohibits foreclosures on any deployed servicemember (and, under their dependents if they seek court relief) while the servicemember is deployed and for up to a year after they return. The Servicemembers Civil … Read the rest

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By: Roy L. Kaufmann

Help with SCRA Compliance

The original version of the Servicemembers Civil Relief Act (“SCRA“)  was enacted in 1940. Since then, Congress has amended it a number of times. But the federal law is still rife with ambiguity. The language is sometimes broad … Read the rest

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By: Roy L. Kaufmann

SCRA Protects Servicemembers’ Dependents Too

Lenders, landlords, people who rent storage lockers and other things to the public,  must always be vigilant about staying in compliance with the SCRA. Servicemembers’ dependents may also enjoy some protections. The Servicemembers Civil Relief Act, a federal law that … Read the rest

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By: Roy L. Kaufmann

DOJ Sues Auto Lender, Alleging SCRA Violations

Another finance company has become the Department of Justice’s latest target, accused of violating the Servicemembers Civil Relief Act. DOJ sues auto lender should prompt attention – do your military verification before you take action.The SCRA, a federal law, … Read the rest

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By: Roy L. Kaufmann

Mortgage Obligations Incurred During Military Service Not Subject to SCRA Protection

Sibert v. Wells Fargo Bank, N.A. 863 F.3rd 331 (4th Cir. July 17, 2017); Servicemembers Civil Relief Act, 50 U.S.C. §3953(a) Mortgage Obligations Incurred During Military Service Are Not Subject to SCRA Protection The 4th Circuit held that … Read the rest

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By: Roy L. Kaufmann

Banks Must Tread Carefully Around SCRA and Follow the Letter of the law

When it comes to the SCRA, banks and other financial institutions must follow the letter of the law carefully or risk steep fines. The Servicemembers Civil Relief Act, a federal law, provides certain protections to members of the military. Which … Read the rest

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By: Roy L. Kaufmann

What Are the Differences Between the SCRA and the MLA?

What Are the Differences Between the SCRA and the MLA? Two distinct federal statutes provide protections for servicemembers in active service or those recently retired. The Servicemembers Civil Relief Act is the successor to the old Soldiers and Sailors Civil … Read the rest

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