Servicemembers’ Civil Relief Act

News & Analysis as of

Highway To The Danger Zone: Automotive Lending And The Servicemembers Civil Relief Act

This past March, Carl Nuss — a 75-year-old used car dealer from Birmingham, Alabama — received a letter from one of his customers, requesting that Mr. Nuss reduce the customer’s interest rate to six percent since the customer...more

Students, Loan Servicers And The Servicemembers Civil Relief Act

Over the past two years, mortgage loan servicers have faced an onslaught of regulatory scrutiny, enforcement actions and targeted litigation. The Department of Justice, state attorneys general and the federal banking...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

Massachusetts Supreme Court Holds Standing In Servicemember Proceeding Requires Evidence Of Mortgagee Status

On January 14, the Massachusetts Supreme Judicial Court (SJC) reversed a Land Court decision and held that a trustee lacked standing to bring a servicemember proceeding because the trustee was not the clear holder of either...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

8 Results
|
View per page
Page: of 1