The Few, the Proud, the Protected — Provisions in SCRA That Financial Institutions Must Be Aware Of
Perficient
NOVEMBER 22, 2022
The Act was revisited frequently in the 20 th Century and became the Servicemembers Civil Relief Act in December 2003. Financial institutions that lend to small business owners need to know that a borrower’s nonbusiness assets and military pay are protected from creditors while the servicemember is on active duty.
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