Description: This course provides an overview of the provisions of the 2003 Servicemembers Civil Relief Act which defines the rights and obligations afforded to military personnel and their families.

The August 2013 update added a section on The Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012 and its extension of protections against foreclosure, seizure or eviction for servicemembers, as well as an overview of the new Interagency Guidance on Mortgage Servicing Practices Concerning Military Homeowners with Permanent Change of Station (PCS) Orders.  

Students will learn through a combination of instructor videos, exercises, readings, glossaries, self-assessments and more. Students will complete the course with a final exam to earn Certified Regulatory Compliance Manager (CRCM) credits.

Audience: Compliance professionals including compliance managers, officers, and other compliance team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, auditors and lending compliance professionals.

Learning Objectives: After completing this course, students will gain a fundamental understanding of SCRA including:

• The provisions governing financial services including:
  • Limits on foreclosure and eviction
  • Interest rate caps on loan
  • Prohibitions on credit reporting
  • Termination of leases and installment contracts
• Which military personnel are covered by SCRA and the documentation they require
• The regulations governing mortgage servicing, modification and foreclosure, and modification requirements for existing balances on credit cards and installment loans