SCRA Compliance Workflow

The Servicemembers Civil Relief Act provides financial and legal protections for active-duty service members, including National Guard and reserve members, and their families and enable servicemembers to focus on their military duties without the distractions of certain financial obligations. It’s important to note that while the DOJ has filed many a lawsuit charging violation of the SCRA, a bank may find itself on the receiving end of the agency’s attention for merely attempting a violation. Therefore, to even begin repossession or eviction proceedings or send notification thereof may be enough to trigger a lawsuit, and eventually, a fine, not to mention lots of bad publicity. NTT Data collaborated with multiple US banks to build a robust solution for SCRA compliance. Digitally completing the SCRA steps for troops and their families not only saves them time and effort, it gives them peace of mind and this strengthens customer's loyalty for bank.