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Eligibility for SCRA rate cap

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

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 through enforcement actions we are finding that “best practices” include making the change and getting verification using the DMDC database.

Learn more about Andy Zavoina’s Attention - Military Lending Problems webinar.

First published on 10/23/2022

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