Search Results: SCRA

DOJ Files Lawsuit Against Regional Credit Union Over Alleged SCRA Violations

On July 26, the Department of Justice (DOJ) announced that it filed a lawsuit against a regional credit union over alleged violations of the Servicemembers Civil Relief Act (SCRA). The SCRA prohibits lenders from repossessing servicemembers’ vehicles without a court order while servicemembers are on activity military duty. The DOJ alleged in…

Read More

CFPB and Auto Lender Settle Servicemember Debt Collection Claim for $3.28 Million

CFPB sign

​On October 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it entered an administrative consent order against an Ohio-based auto lender that specializes in loans to military servicemembers.  The CFPB consent order, and the companion stipulated order issued by the U.S. District Court for the Southern District of Ohio, resolve…

Read More

Office of the Comptroller of the Currency Announces $30 Million Civil Penalty Against National Bank Over SCRA Violations

On August 21, 2015, the Office of the Comptroller of the Currency announced that it had concluded its investigation into several related national banks regarding alleged violations of the Servicemembers Civil Relief Act. The Act prohibits certain debt collection activities against members of the armed forces. Before proceeding with judicial…

Read More

OCC Enters Consent Orders with National Bank Regarding Compliance with SCRA

On May 29, 2015, the Office of the Comptroller of the Currency (“OCC”) entered into two consent orders with a National Bank regarding the bank’s non-home loan compliance with the Servicemembers Civil Relief Act (“SCRA”) and the bank’s practices in connection with non-home debt collection litigation practices. The OCC estimates…

Read More

Justice Department Reaches Settlement with a National Motor Vehicle Lender Over Repossessions That Violated the Servicemembers Relief Act

On February 25, 2015, the Department of Justice (“DOJ”) announced a settlement with a national motor vehicle lender over allegations that the company repossessed over 1,1000 cars in violation of the Servicemembers Civil Relief Act, 50 U.S.C. Sections 501-597b. A consent order was filed in the U.S. District Court for…

Read More

12