Category: Compliance for Banks & Lenders

What Are the SCRA Vehicle Repossession Rights?

As a lender or auto dealership, you are likely — and rightly — concerned with the SCRA vehicle repossession rights. It’s important to follow the letter of the law in these matters in order to avoid fines and penalties.

Companies …

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What are Common Myths About The Servicemembers Civil Relief Act?

The Servicemembers Civil Relief Act is an important law that grants special protections to those with active military status. The SCRA’s rules are sometimes confusing. This results in some people who do business with members of the military inadvertently …

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The SCRA and Bankruptcy: Does it Apply?

Many lenders and business owners know the rules of the SCRA as they apply to civil matters. They know they have to get a military status verification before heading to civil court. But what about the SCRA and bankruptcy proceedings? …

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Auto Lending: Can I Repossess Servicemembers’ Vehicles?

Hole in SCRA Allows Lender to Prey on Servicemembers

The Servicemembers Civil Relief Act exists to protect military personnel, who are often among the most vulnerable to questionable financial practices. This law requires lenders to perform an active duty military search before attempting to pursue collection strategies that go …

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Court Changes SCRA Expectations for Lenders

What are the SCRA expectations for lenders regarding the Servicemembers Civil Relief Act?

The interpretation of this longtime federal law has been that it is the responsibility of servicemembers to notify lenders when they believe they are due protections.

But …

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