Servicemembers Civil Relief Act

The Servicemember Civil Relief Act (SCRA) provides relief provisions for both consumer and business credit that was extended to servicemembers prior to going on active duty.

The protections include a reduced interest rate on certain loans, protection against foreclosure, protections from default judgements in civil lawsuits, protections against repossession of property, and the ability to terminate a lease without penalty.

This course is intended for all lending department personnel and compliance professionals.

Learning Objectives:

• Determine who may invoke their rights under the SCRA
• Know what restrictions and limitations the bank must take on certain loan types when SCRA rights are requested
• Ensure your bank has compliant policies and procedures in place if a servicemember invokes their rights under the SCRA

Course Outline:

• Introduction
• Applicability
• General Provisions
• General Relief
• Protections on Certain Loans

Rev–Dec. 2020. Course length ≈ 20 minutes. This course is worth 0.5 CPE credits.