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Terry Fitz, CRP
All statements & opinions are my own and not necessarily those of my employer.
If it is an overdraft checking account you can not deny or revoke credit simply because the borrower exercises their rights under the act(See Sec. 518).
Hope this helps.
And I still have a difference of opinion with some that say you can't report anything derogatory on someone under SSCRA. I won't go into that again as I posted my opinions on that before. Suffice it to say that you are not reporting derogatory credit solely because they are protected under the Act.
At best, checks presented while the person is protected under the Act that were written before coming under the Act are the only ones that may have fee implications. And the decision to pay or not pay the items cannot be based on active duty status.
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Andy Zavoina
Opinions stated are not necessarily that of my employer.
The Act also states that a person may be asked to establish proof that they are "materially affected" by their duty status. Because we are a community bank, we decided not to ask for that proof, but to extend the protections to anyone who applies.
You are in a different position, because you are located very near an military base and therefore much more likely to be impacted than we are. I can understand why your would interpret this act more strictly than we do.
Leslie
[This message has been edited by Leslie (edited 01-12-2002).]