Used Car NewsUsed Car News

  • ABG -0.18 - -0.29%
  • AN +0.45 - +0.87%
  • CACC -5.44 - -2.73%
  • CAR +0.89 - +2.41%
  • CARZ +0.0569 - +0.1758%
  • CPRT +0.615 - +1.236%
  • CPSS -0.00 - -0.13%
  • CRMT -0.11 - -0.34%
  • DAI
  • F -0.08 - -0.57%
  • FIATY +0 - +0%
  • GM +0.13 - +0.41%
  • HMC -0.09 - -0.33%
  • HTZ +1.00 - +1.96%
  • KAR +0.63 - +1.49%
  • KMX +0.39 - +0.68%
  • LAD +0.37 - +0.44%
  • MZDAF +0.00 - +0.00%
  • NSANY -0.405 - -2.063%
  • PAG -0.33 - -0.91%
  • SAH +0.05 - +0.26%
  • TM +0.82 - +0.75%
  • TRAK +0.00 - +0.00%
  • TSLA +1.77 - +0.80%
  • TTM +0.53 - +1.44%
  • VLKAY +0.05 - +0.16%
  • VROM

Featured News

CFPB Names Enforcement Associate Director
The Consumer Financial Protection Bureau has named Chris D’Angelo as associate director for supervis...

Read more

Auto Finance Outperforms Other Credit Sectors
Auto loan defaults declined in June.

Auto loan defaults recorded a 0.91 percent default r...

Read more

Dealer Gets Six Years for Defrauding Navy FCU
The co-owner of a Virginia used-car dealership was sentenced to 74 months in prison, followed by 4 y...

Read more

Dealership Staff Plead in Fraud Case
The manager of a now-defunct New Jersey used-car dealership and two co-workers have pleaded guilty i...

Read more

CFPB Names Enforcement Associate Director
Auto Finance Outperforms Other Credit Sectors
Dealer Gets Six Years for Defrauding Navy FCU...
Dealership Staff Plead in Fraud Case

Used Car News | Home

Manual Helps with Servicemember Financing

counselorlibraryCounselorLibrary.com announced the newest in its series of compliance manuals,, Compliance Guide - Servicemembers Civil Relief Act, by James Chareq, is now available.

The federal Servicemembers Civil Relief Act provides important financial protections for servicemembers and their families. Although the SCRA has been on the books for years, the subject of financial protections has become a focus of federal and state regulation. The Dodd-Frank Wall Street Reform and Consumer Protection Act created a powerful new federal agency, the Consumer Financial Protection Bureau. One of the CFPB's principal missions is the protection of the financial interests of servicemembers and their families. Many states have enacted laws that provide protection as well.

Compliance Guide - Servicemembers Civil Relief Act is a reference tool that provides busy finance companies with a step-by-step roadmap to designing and implementing an SCRA compliance program. The SCRA topics addressed include:

  • When a creditor's SCRA compliance obligations are triggered;
  • The operation of the 6 percent interest rate limitation;
  • The motor vehicle lease termination provisions;
  • The provisions relating to default judgments and stays of proceedings; and
  • The SCRA's impact on the availability of creditor remedies.