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ABA: The American Bankers Association
Compliance News

ABA Updates SCRA Staff Analysis

ABA last week updated our Staff Analysis on Servicemembers Civil Relief Act (SCRA) compliance to include the changes made under the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), signed on May 24, 2018, which made permanent the one-year period of protection from foreclosure that is afforded a service member under the National Defense Authorization Act for FY 2018. We also described new provisions, effective September 2018, that allow a bank to accept a letter from the service member's commanding officer or use the Defense Manpower Data Center (DMDC) database to determine military status.