New DoD SCRA Regulations for Moneylenders
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 …
View moreABA Announces Revision in SCRA Compliance Requirements
The American Bankers Association has announced changes to its SCRA compliance requirements. The ABA, which makes available to its members very detailed analyses on Servicemembers Civil Relief Act compliance and HUD’s Servicemembers Civil Relief Act notice disclosure, has announced recent …
View moreCar Towing Service Faces Potential Penalties for SCRA Violation
When U.S. Army Reserve Lt. Col. Alexzandria Kelly left on active duty to Africa last year, she expected her 1972 AMC Gremlin to be safe.
The Servicemembers Civil Relief Act offers civil protections to servicemembers, and one of those protections …
View morePrivate Cause of Action Under SCRA
The Servicemembers Civil Relief Act (“SCRA”), a federal statute, provides for certain protections for servicemembers. These protections, discussed in detail in our blog, include
- Reductions in interest rates on certain obligations
- Requirements before entries of default judgments
- Restrictions on
New York Tightens Default Judgment Affidavit Rules
States sometimes enact laws over and above the federal Servicemembers Civil Relief Act (“SCRA”) to protect servicemembers in their jurisdictions. In fact, even within States, local jurisdictions may have their own SCRA rules. For example,pursuant to CPLR 3215(a), New …
View moreAuto Lender to pay $3.28M for SCRA Illegal Debt Collection
The Consumer Financial Protection Bureau (CFPB), with its authority under the Dodd-Frank Act to take action against companies engaging in unfair, deceptive, or abusive practices, has filed an administrative consent order against an auto lender that targeted servicemembers for illegal …
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