Highway to the Danger Zone: Automotive Lending and the Servicemembers Civil Relief Act
Banking Law JournalJohn C. Redding, Sasha Leonhardt
Over the past few years, federal regulators — led by the Department of Justice — have sharply increased their focus on SCRA compliance. Although most recent headlines related to SCRA enforcement have arisen in the area of home mortgages, several major enforcement actions and multi-million dollar settlements indicate that regulators are looking beyond residential mortgage loans to identify possible violations involving all consumer asset classes, including auto loans.
Originally published in the Banking Law Journal; reprinted with permission.