Servicemembers Civil Relief Act (SCRA) for Compliance Professionals
Course Number: ABA
Course Code: ABA
Explains the rights and obligations afforded to our servicemembers and their dependents and the responsibilities of financial institutions to comply with SCRA and related acts in order to protect servicemembers from certain disadvantages while they are serving the country.?
Updated: May 2019
Re-versioned: June 2016
What You’ll Learn
After completing this course, students will be able to:
Describe the major provisions of SCRA, highlight recent amendments, and cite those that govern financial services including the following provisions:
-Limits on foreclosure and eviction
-Interest rate caps on loans
-Prohibitions on credit reporting
-Termination of leases and installment contracts
Define those military personnel covered by SCRA and the documentation required
Describe the regulations and guidance governing mortgage servicing, modification and foreclosure
Audience: Compliance professionals including compliance managers, officers, and other compliance team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, auditors and lending compliance professionals.