Category: Compliance for Banks & Lenders - Page: 4

When Are Servicemembers Entitled to Lower Interest Rates?

Тhe 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

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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 …

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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

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SCRA Protects Servicemembers’ Dependents Too

Lenders Must Comply With SCRA Protections

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 …

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The Consequences of SCRA Noncompliance

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 …

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