Skip to content

Eligibility for SCRA rate cap

Question: 
A soldier’s mother called to tell us her son joined the Army. Do we have to reduce the loan rate that day?
Answer: 

There are documents you can require for proof of protected status under the SCRA such as a copy of the orders for that person. But thru enforcement actions we are finding that “best practices” include making the change and getting verification with the DMDC database.

First published on 04/03/2016

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics