CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
On December 7, 2022, the CFPB issued a report recommending that creditors proactively provide Servicemember Civil Relief Act (SCRA) interest rate benefits to eligible customers, bypassing the statute’s requirements of a...more
On December 7, 2022, the CFPB issued a report recommending that creditors proactively provide Servicemember Civil Relief Act (“SCRA”) interest rate benefits to eligible customers, bypassing the statute’s requirements of a...more
In a case of first impression in Ohio, the Fairfield County Court of Common Pleas held that R.C. § 1343.031, Ohio’s version of the Servicemembers Civil Relief Act (SCRA), does not apply to residential mortgages. This decision...more
Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more
The Servicemembers Civil Relief Act offers servicemembers financial protections, including the ability to have interest rates reduced to 6%, when a servicemember is called to active duty after entering into a credit...more
This past May, we wrote about the $60 million Servicemembers Civil Relief Act (SCRA) settlement announced by the Department of Justice (DOJ) and Department of Education (ED) with a major student loan servicer and expressed...more
In a putative class action handled by Robert Maddox, Mike Pennington, and Keith Anderson, the Northern District of Alabama recently dismissed a lawsuit for alleged violations of the Servicemembers’ Civil Relief Act (“SCRA”)....more