SCRA protections are not to be taken lightly. Violating the Servicemembers Civil Relief Act carries serious penalties. But so few of lenders’ clients are servicemembers — is the risk really that high?
Think of the attention lenders must pay to … Read the rest
Lenders can’t comply with the Servicemembers Civil Relief Act if they aren’t well-versed in all of its many sections. Lenders who don’t retain legal advice to help them meet the many and varied requirements would do well to appoint a … Read the rest
The Servicemembers Civil Relief Act can be a slippery slope. The language in the act is sometimes vague. But penalties for SCRA noncompliance can be severe, and even devastating, depending on the size of your business or institution.
Moreover, regulators … Read the rest
Banks, lenders, landlords and anyone who rents to or holds a mortgage for a servicemember should be keenly aware of the ins and outs of the Servicemembers Civil Relief Act. Real estate creditors must address SCRA guidelines before they take … Read the rest
Student financial aid offices across the U.S. need to be vigilant about their SCRA student loan interest rate compliance in accordance with the Servicemembers Civil Relief Act.
Student loans have been in the news more than ever during this last … Read the rest
If you’re a moneylender, recent regulation changes to the Military Lending Act issued by the DoD could greatly affect your business.
Banks and other lending institutions likely know about the SCRA regulations the Department of Defense set up in 2006 … Read the rest
‘CFPB: SCRA Violations Still Problem For Student Loan Servicers’
The Servicemembers Civil Relief Act is designed to protect active-duty military members’ rights while deployed, both in the U.S. and abroad. Today, one of the biggest issues with the SCRA is … Read the rest
To verify military status of an individual and get a military affidavit, log in to your account above. If you aren’t registered, you can register here.
Let’s first define the military affidavit. As you can see from the … Read the rest