Servicemember Civil Relief Act’s 6% Interest Rule

March 10, 2020 - 2 min read

Institutions are advised to be reminded of a relatively recent revision to the Servicemember Civil Relief Act (SCRA) regarding the 6% rule. ProBank consultants have been finding numerous institutions that are not aware of this change. On August 13, 2018, the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (HR 5515; Pub Law…

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