The CFPB recently released two tools to assist servicemembers understand their rights under both the SCRA and MLA. The first is a blog post explaining SCRA rights and the second is a flowchart outlining MLA applicability.
On June 23, 2021, the CFPB published a Blog Post titled “Consumer Advisory - Know Your Rights Under the Servicemember Civil Relief Act.” This article provides an overview of SCRA, explains recent amendments to the SCRA, provides guidance to servicemembers, and explains what servicemembers can do if they believe their SCRA rights have been violated.
In June of 2021, the CFPB created an “Applicability Flow Chart” for the Military Lending Act. This flow chart explains MLA protections, covers the difference between the SCRA and the MLA, provides a flow chart for MLA applicability, includes a checklist for violations that can be used to determine if a creditor violated a servicemembers rights, and concludes with information on how to submit a complaint.
The CFPB blog post on SCRA can be found here.
The MLA flowchart can be found here.