Description
This course provides an overview of the Servicemembers Civil Relief Act (SCRA) and other key legislations which have had an effect on the SCRA. The SCRA and its related legislations define the rights and obligations afforded to servicemembers and their dependents.
The course provides valuable information about the responsibilities of the financial institution to comply with the provisions of the SCRA and related acts in order to protect servicemembers from certain disadvantages while they are serving the country. While the SCRA applies to different types of organizations, the focus in this course will be on the sections directly impacting banks.
What You’ll Learn
After completing this course, students will be able to:
- Describe the history and purpose of SCRA, including how the Act has been updated and modernized
- Describe who is covered under SCRA and a servicemember’s right to waive SCRA protection
- Describe major provisions of SCRA, including interest rate relief; protections on mortgages, leases, and installment loan obligations; and protections from adverse actions
- Describe other legislation that impacts and complements SCRA
- Describe practices to ensure compliance with SCRA
