Category: Compliance for Banks & Lenders

Does the Military Pay Off Student Loans? An In-Depth Look

It is common knowledge that millions of Americans have student loan debt. Over 43 million Americans have amassed more than $1.3 trillion in debt for student loans. Paying off loan debt is anything but easy. While getting an education is …

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Defending Service Members: The Military Lending Act Explained

Being part of the military has plenty of privileges. Unfortunately, financial obligations can hinder service members from focusing on the job. That is why military members are given special protections like the Military Lending Act (MLA).

The MLA limits the …

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Military Debt Collection Law: Understand Your Rights

Nobody likes hearing from debt collectors. If you’re part of the military, military debt can pose risks to your status, promotions, and career. Military debt is just like any other type of debt. Primarily, it can affect the military personnel’s …

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7 Point SCRA Checklist for 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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