Servicemembers’ Civil Relief Act

News & Analysis as of

You Should Know - May 2016

In This Issue: - Forced Injustice - Stacking the Deck - Sign the Petition - Excerpt from Businesses Use Loophole to Deny Day in Court: Injustice, Thy Name Is Forced Arbitration: Tia’s employment case...more

Difficulties Foreclosing in Massachusetts

Foreclosing a mortgage in Massachusetts can be a pain. Among the many, very technical requirements, a foreclosing mortgagee must be able to prove that it is the holder, or the authorized representative of the holder, of the...more

CFPB Increasingly Aiming “Abusiveness” Claims at Servicemember Products and Services

Are servicemembers more financially vulnerable than the civilians they protect? Recent enforcement actions suggest that, in the CFPB’s view, they are. While the Servicemembers Civil Relief Act (SCRA) provides more financial...more

Bank of America / FIA Card Services Found to Engage in “Unsound , Unsafe, and Illegal” Debt Collection Practices

On May 29, 2015 Bank of America and its affiliate FIA Card Services, were fined $30 million by the Department of the Treasury through the Office of the Comptroller of the Currency (“OCC”) for engaging in “unsound, unsafe” and...more

Battling on the Front Lines of Foreclosures: What must a Lender consider and do when foreclosing on a property owned by a...

A complicated, but sometimes overlooked, issue facing foreclosing lenders is properly handling and defending against claims that a servicemember-owner is entitled to protections from foreclosure based on his or her status as...more

Servicemembers Civil Relief Act: Critical Takeaways

After many years of U.S. military mobilizations and overseas deployments since 2001, our clients have learned some valuable lessons about consumer rights and privileges triggered by military service. Here are some of the...more

Financial Institutions and Creditors’ Rights: Ninth Circuit Finds SCRA Liability Based on Prior Servicer’s Actions

The Servicemembers Civil Relief Act (“SCRA”) was signed into law in 2003, greatly expanding prior legislation in order to better assist servicemembers in avoiding default and foreclosure while they are on active duty. The...more

Banking industry trade groups oppose expansion of Military Loan Act coverage

Six banking industry trade groups, including the American Bankers Association, the Consumer Bankers Association and the Financial Services Roundtable, have sent a comment letter responding to a Department of Defense (DOD)...more

Mortgagee and Mortgagor Standing and the Servicemembers’ Civil Relief Act

The Massachusetts Supreme Judicial Court, in HSBC Bank USA, N.A., Trustee v. Jodi B. Matt, No. 11101 (Jan. 14, 2013), recently clarified the issue of standing for both plaintiffs and defendants in actions under the...more

What’s at the Bottom of the ‘Robosigning’ Scandal?

The problematic practice of robosigning – whereby banks and other lenders improperly foreclosed on properties through formulaically processing foreclosure documents – has been much in the news over the past couple of years....more

Servicemembers Civil Relief Act: Provisions Affecting Banking Institutions

According to December 2012 data from the federal Bureau of Labor Statistics, the unemployment rate for Gulf War Era veterans, hovering around eight percent, remains higher than the national rate. Over the last decade, more...more

Congress passes bill giving CFPB authority to enforce Military Lending Act and creating civil liability for violations

The 2013 Defense Authorization Bill (H.R. 4310), currently awaiting signature by President Obama, makes several changes to the Military Lending Act. Last week, both the House and Senate agreed to the conference report....more

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