Consumer Loan/SCRA Policy Updates

Product Update Notification - 11/18/08

Consumer Loan and SCRA Policy Template Updates

Bankpolicies.com is proud to announce the immediate availability of the following revised products:

Servicemembers Civil Relief Act Policy Template

The update to these products is in response to the OCC Bulletin OCC 2008-30 entitled "Servicemembers Civil Relief Act - Legal Requirements" dated October 24, 2008. Section 2203 of the Housing and Economic Recovery Act of 2008 (HERA), Pub. L. 110-289, 122 Stat. 2654 (2008), revised certain provisions of the SCRA. The revisions provide additional protections to servicemembers by extending the period during which a creditor may not charge interest in excess of six percent per year in connection with obligations and liabilities consisting of a mortgage, trust deed, or other security in the nature of a mortgage. The revisions also extend the periods during which a creditor is restricted from enforcing, or foreclosing upon, such credit obligations on real or personal property owned by a servicemember. The revisions became effective upon enactment on July 30, 2008.

http://www.occ.treas.gov/ftp/bulletin/2008-30.html

NOTE: The complete text of the Servicemembers Civil Relief Act Policy Template is included as Topic 16 within the Consumer Loan Policy Template.

What's New, Revised and Deleted

Please visit the following pages of our website to review detailed subject matter regarding new, revised and deleted topics for these products:

Consumer Loan Policy Template Update Details

Servicemembers Civil Relief Act Policy Template Update Details

Ordering Information

These revised products are available to purchase from Bankpolicies.com for:

Consumer Loan Policy Template

$325.00 - List Price

- or -

$25.00* - Update Price

*Applies only to clients who have purchased the Consumer Loan Policy Template within the last three years in addition to the following prior updates (if applicable):

Consumer Loan Policy Template Update - 09/09/08- $25.00

Consumer Loan Policy Template Update - 09/25/07- $25.00

Consumer Loan Policy Template Update - 02/22/07- $100.00

Servicemembers Civil Relief Act Policy Template

$125.00 - List Price

- or -

$25.00* - Update Price

*Applies only to clients who have purchased the Servicemembers Civil Relief Act Policy Template within the last three years.

If you have ordered either of these products after 10/18/08 you are eligible to receive that updated product at no charge.

Click here to place an order for any of these products. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price of each product (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

Find Out What's New or Revised with our Product Update Program

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