Is there a provision in the SSCRA that states the financial institution must waive the insurance requirement for auto loans? I haven't seen anything, but we are getting the request.

Suspending your property insurance requirement is neither rate relief nor forebearance, so these requests appear to be outside the scope of the SSCRA. Nevertheless, if the G.I. is leaving the Chevy on blocks and no one's driving it while s/he is away on active duty, then you wouldn't be exposing the bank to undue risk if you suspended this requirement. Your call.

We in the past, in these and similar circumstances, waived collision coverge, but required other coverage to remain in effect in case of theft, vadalism, etc.

Good points, Dan. Another consideration: does it put the G. I.'s mind at ease (while riding a tank through the Arabian Desert) to know that someone could be trashing his/her truck back home and no insurance claim will be possible?

I know that in similar cases to waive coverage or not have coverage force-placed (not just SSCRA)for non use, we have the customer bring in their license plates and keep in their file. Provides a little extra comfort that someone else won't be borrowing it.

While we are on the topic of SSCRA...

What practice are all of you following before you actually change the rate? Specifically, are you having the customer sign a Change in Terms agreement, or just changing the rate with only the customer's written request?

Currently, we are trying to have the cust sign a CIT, which includes language stating that they must notify us when they return from active duty (for Nat'l Guard folks). However, if we receive a mailed request from the field, obtaining a CIT isn't very practical. Your thoughts, please!

Generally we do a change in terms form signed by the service member. In instances where the service member is not able to come to the bank, we ask for copy of their orders and file it along with the change in terms form.

1) Insurance is not included in the SSCRA. Your actions should depend on whether the vehicle will be in a secured lot (there are some here already with guards) but they are not covered and losses do occur, or if it is being left with someone else who will maintain it so it runs good. Sometimes really good!

2) A modification/change in terms isn't required and if you do one, ensure it will let you resume the original terms upon deactivation/discharge.