I'm not seeing this topic anywhere so if I have overlooked it, let me know. We don't get many military clients but need P&P in place if the situation comes up.

Overdraft LOCs, obtained prior to active duty, no prior balance: Goes on duty, has an advance. Does SCRA apply?

Our bank applies the 6% cap on their previously opened credit cards regardless if the purchase was made after they went on active duty. But we do not specifically address OD LOCs. As I create/update our P&P I want to be sure its done accordingly. Thank you!

Advances made on a line of credit after entering active duty are not subject to the rate restrictions.

If we choose to apply the rate restriction for ease of billing, would there be any issue with that?

Thank you for your response, Dan.

No. A lot of FIs do that due to software limitations.

Great- thank you for the added clarity, Dan.