Attorney Published Article
Military Lending Act, Servicemembers Civil Relief Act, and State Military Law UpdatesRead Time: 1 min
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 revoked a portion of a prior interpretive rule under the Military Lending Act 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 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.
Robert Savoie (Cleveland) and Sarah Edwards (New Orleans) co-authored an article on these updates and amendments in the ABA Business Law Section’s The Business Lawyer, Volume 76, Issue 2, Spring 2021.