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Service Members Civil Relief Act of 20031 - page 6 / 6

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V. Lending — SCRA

Examination Checklist – Servicemembers Civil Relief Act

Yes

No

Section 535 - Termination of Residential or Motor Vehicle License

  • 1.

    Did the creditor terminate the lease within the stipulated time once the requirements for termination were met by the servicemember lessee? (535(d)) (If No, cite a violation of Section 535(d).)

  • 2.

    Did the creditor refund the lease amounts paid in advance for a period after the effective date of termination within 30 days of the effective date of the termination of the lease? (535(e) (If No, cite a violation of Section 535(e).)

Section 536 - Protection of Life Insurance Policy

1.

Did the creditor obtain a court order before exercising any right or option obtained under an assignment of the servicemember’s life insurance policy made before the servicemember’s military service during the period of military service or within one year thereafter? (536(a)) ªIf No, cite a violation of Section 536(a).)

V-11.6

FDIC Compliance Manual — June 2009

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