Servicemember Issues: The Military Lending Act, SCRA, and UDAAP Issues
This is the description from our webinar that was presented in April 2014. Please check back for a modified description. Topics may be updated, but registration is now open.
Servicemember issues have been in the news for a few years now. Financial Institutions have been taking great care not to treat servicemembers and their family members less favorably, due to the great compliance and reputation risks problems in this area present. But what exactly are the rules?
The Servicemembers Civil Relief Act (SCRA) is the most well-known, of course. But there are other considerations, such as fair lending and even UDAAP. Does your institution know the rules, and what to do and not do? This webinar is designed to address all these issues, so you can be prepared. Know what it means to reduce the interest rate on active duty borrowers to 6%, as well as various other protections against foreclosure and other areas.
We’ll also talk about some of the more-recent enforcement actions taken against other institutions, to learn from others’ mistakes. As well, there are issues to confront when it comes to the HAMP (Home Affordable Modification Program), plus Fannie Mae and Freddie Mac.
- History of the SCRA – the old “Soldiers and Sailors Civil Relief Act”
- Principal SCRA protections, including the interest rate reduction provision
- What does active duty mean? How do you know for sure who is covered? Plus who is NOT covered
- Dealing with the DMDC website to confirm status
- Permanent Change of Station (PCS) guidance
- When does coverage end? Does it?
- Foreclosure and default judgment protections
- HUD Form 92070 – what it is and when to provide it
- Protection against eviction
- Fair lending, UDAAP, and FCRA issues
Anyone in the institution that might encounter Servicemembers and Servicemember accounts. This includes frontline staff, managers, auditors, lenders, and underwriters.
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 5 Day On-Demand - $265
- Six Month On-Demand – $295
- Live plus Six Month On-Demand – $365
- CD-ROM (Includes Six Month On-Demand) – $325
- Premier (Includes all options) – $395
- Additional Locations – $75
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
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