Servicemembers Civil Relief Act | American Bankers Association

Jump to Content

Search ABA

Search ABA

The goal is to let servicemembers “devote their entire energy to the defense needs of the nation” by ensuring that financial concerns do not overwhelm servicemembers. The law generally applies to obligations incurred before active duty and temporarily suspends certain legal and administrative proceedings.

Statutes

50 U.S.C. 3901-4043

Staff Analysis

Servicemembers Civil Relief Act Compliance (SCRAC)
May 30, 2019

SCRA Questions from the Hotline

Are there compliance issues if a bank requires an active duty servicemember to refinance their loan outside of the bank's trade area?
If a customer has a loan with the bank subject to the Servicemembers Civil relief Act (SCRA) and is late on a payment, must the bank waive late fees and/or refrain from reporting late payments to a consumer reporting agency?
Can the bank repossess a vehicle if a loan to a servicemember's spouse is in default?

Search the database

Agency Guidance

HUD's Q&A for Lenders Regarding SCRA
June 1, 2017

Exam Procedures

Policy Library
News

Policy Library

Staff Analysis
Servicemembers Civil Relief Act Compliance (SCRAC)
May 30, 2019

News

NewsByte
ABA, associations seek equal treatment for banks, credit unions on military bases
May 04, 2023
NewsByte
CFPB report finds servicemembers underutilizing SCRA interest rate reduction
December 08, 2022
NewsByte
ABA opposes adding Durbin-Marshall to defense bill
October 03, 2022

Related Training & Events

Servicemembers Civil Relief Act (SCRA) for Compliance Professionals
Self-Paced Training
Servicemembers Civil Relief Act (SCRA)
Self-Paced Training

Agency Materials

SCRA Website

In Depth

Related Products

Our Experts

Nessa Feddis

Senior Vice President & Senior Counsel, Regulatory Compliance and Policy

Teshale Smith

Teshale Smith

Senior Counsel, Regulatory Compliance and Policy

Contact Teshale

Stay Connected

Risk, Compliance & Financial Crimes Email Bulletin

A weekly information resource with ABA news, analysis and resources, specifically selected to meet readers’ unique content needs. (Bank members only)

Commmittee Icon Light

Open Compliance Committee

Learn about new regulatory initiatives, share common compliance concerns, and seek input from peers on compliance challenges.

Compliance Network

The ABA Compliance Network is a members only online forum facilitating discussion of compliance topics and providing opportunity for professional interaction.