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#2208408 - 03/11/19 08:26 PM SCRA Refund Time Limit
b5888 Offline
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Joined: Feb 2016
Posts: 3
Apologies if this is actual covered somewhere, but is there a time limit on how soon a bank is required to refund interest for SCRA requests? Situations where a customer go on active duty and notifies the bank after they return, we should refund any interest in excess of 6%. Trying to determine how quickly this needs to happen. Thank you.

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2209488 - 03/26/19 02:01 PM Re: SCRA Refund Time Limit b5888
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
There's no stated deadline in the SCRA that I am aware of. But don't let your bank get accused in a local newspaper of "dragging its feet."
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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