Jeffrey Naimon Quoted in American Banker Article, "New Military Lending Rules Cover More Credits, Ban Arbitration"Jeffrey P. Naimon
Jeffrey Naimon was quoted in Kevin Wack's American Banker article, "New Military Lending Rules Cover More Credits, Ban Arbitration," on July 21, 2015.
In the last two months, Bank of America and JPMorgan Chase have each been assessed $30 million civil money penalties for alleged violations of the Servicemembers Civil Relief Act. That law provides various consumer protections to service members who are on duty overseas.
Jeffrey Naimon, a lawyer at Buckley Sandler who frequently represents financial institutions in these cases, said that banks are eager to avoid the perception that they are mistreating members of the military.
He noted that when banks are hit by regulatory actions involving service members, the banks' executives frequently offer a public apology, whereas they often stay silent with respect to other regulatory matters. "From a public relations standpoint, it's an enormously sensitive issue," Naimon said.
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