Compliance for Banks & Lenders

By: Roy L. Kaufmann

The Military Affidavit in the Collection Process

certificate of nonmilitary servic 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. Transcript: Let’s first define the military affidavit. As you …

Read More

By: Roy L. Kaufmann

Lender Retaliation After SCRA Rights Are Invoked is Prohibited

Servicemembers are entitled to certain SCRA rights. Lenders who violate them — intentionally or otherwise — may find themselves in trouble with the law. When a servicemember asks a creditor for to extend privileges under the Servicemembers Civil Relief Act …

Read More

By: Roy L. Kaufmann

When Are Servicemembers Entitled to Lower Interest Rates?

The Servicemembers Civil Relief Act (“SCRA”) protects servicemembers from some court actions and financial costs. One SCRA benefit involves lower interest rates. Under the SCRA, which Congress enacted to relieve servicemembers of some worries back home while they are out …

Read More

By: Roy L. Kaufmann

Affidavit of Due Diligence under the SCRA – Sometimes the only solution

Banks, landlords, storage operators, repossessors, and plaintiffs in lawsuits who want to take some action against a person all have something in common.  They need to verify if the person is on active military duty.  Usually, they need to present …

Read More

By: Roy L. Kaufmann

Lenders May Enjoy Relaxed Military Lending Act Rules

President Trump is loosening restrictions on protections for servicemembers, according to a recent NPR story. The changes, if enacted, will come via the Military Lending Act rules. This law, similar to the Servicemembers Civil Relief Act, provides protection to …

Read More

By: Roy L. Kaufmann

How Does the SCRA Affect Interest Rates?

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

Read More

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 More

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 More

123

Copyright © 2018 by SCRA, LLC. All rights reserved.
<Customer Reviews Accepted Modes of Payment