SCRA

USAA Savings Bank Rates and Fees for Service Members SCRA Class Action

The Servicemembers Civil Relief Act (SCRA) is meant to help make up for some of the financial sacrifices that members of the US armed services make when they go to serve their country. The SCRA’s benefits include a cap on interest rates for service members of 6%. USAA Federal Savings Bank and USAA Savings Bank  Read more

Chase Bank Military Member Credit Card Holders Settlement

JPMorgan Chase Bank, NA is paying $62 million to settle a class action alleging it did not reduce the interest rates on the credit card accounts of service member customers. The complaint alleges that Chase’s behavior violates the Servicemembers Civil Relief Act, the Truth in Lending Act, Delaware’s Consumer Fraud Act, and breach of contract.  Read more

Active Military Members SCRA Low Interest Rates Investigation

Military members, check your interest rates. If you are on active duty, you should not be charged more than six percent—for your credit cards, your mortgage, or your car loan, if you obtained these loans before you went into the military. This rate is good for the duration of your active service, and lenders can’t  Read more