Military Lending Act, Servicemembers Civil Relief Act, and State Military Law Updates

摘要

The federal and state laws governing the special benefits and protections afforded to servicemembers have been amended in various ways over the past couple of years. In 2020, the U.S. Department of Defense ("DoD") revoked a portion of a prior interpretive rule under the Military Lending Act ("MLA") that created great controversy and reflected a position not subject to formal rulemaking with notice and comment. In 2018, Congress amended the Servicemembers Civil Relief Act ("SCRA") to create an optional safe harbor identification method for the 6 percent interest rate reduction benefit. In 2018 and 2019, some states also enacted entirely new laws providing benefits and protections to various categories of servicemembers or implemented amendments to existing laws providing such benefits and protections.