'You Can't Handle the Truth!' Fact, Fiction and the Servicemembers Civil Relief Act

Thomson Reuters
11 minute read | October.22.2012

Over the past year and a half, several federal agencies, including the Department of Justice, Office of the Comptroller of the Currency and Federal Reserve Board, have turned their attention to promoting compliance with the Servicemembers Civil Relief Act, 50 U.S.C. app. §§ 501. Because military service often complicates service members’ ability to fulfill their financial obligations or assert many of their legal rights, Congress intended the SCRA to provide protections related to financial obligations and court proceedings “to enable [servicemembers] to devote their entire energy to the defense needs of the nation.”

Recent SCRA settlements include eight-figure penalties, with six-figure compensation for a single alleged violation of the statute. In addition, these settlements have required file reviews, ongoing compliance activities and new SCRA servicing requirements. Government agencies acknowledge that the settlements include requirements that go well beyond the legal requirements of the SCRA.

Reprinted with permission © 2012 Thomson Reuters.

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Sasha Leonhardt Partner, Financial & Fintech Advisory, Strategic Advisory & Government Enforcement (SAGE)

Washington, D.C.

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D:+1 202 349 7971
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Practice:

Financial & Fintech Advisory
Strategic Advisory & Government Enforcement (SAGE)
Cyber, Privacy & Data Innovation
Fintech
Government Investigations and Enforcement Actions

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Sasha Leonhardt Partner

Washington, D.C.

Sasha also has substantial experience advising clients on the Servicemembers Civil Relief Act (SCRA), Military Lending Act (MLA), Consumer Financial Protection Act (CFPA), Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), and Fair Debt Collection Practices Act (FDCPA). He advises companies, non-profits and industry associations with consumer privacy issues arising from the Gramm-Leach-Bliley Act (GLBA) and Regulation P, the Fair Credit Reporting Act (FCRA) and its Affiliate Marketing Rule and state and federal laws that address data privacy and information security.

In addition to representing clients, Sasha has published numerous articles on various aspects of consumer financial services law and practice, including data privacy, class action litigation, white collar litigation, whistleblower lawsuits and recent trends in regulation and enforcement. He also maintains an active pro bono practice and serves as a member of the Legal Counsel for the Elderly’s Young Lawyers Alliance. A frequent speaker on a variety of legal topics, Sasha has taught at Duke University School of Law and American University Washington College of Law, and was previously a Professorial Lecturer in Law at the George Washington University Law School.

Prior to joining Orrick, Sasha was a partner at Buckley LLP. He also previously served as Deputy Press Secretary to Maryland Governor Martin O’Malley. He is accredited as a Privacy Law Specialist, a Fellow of Information Privacy, a Certified Information Privacy Manager (CIPM/US), and a Certified Information Privacy Professional (CIPP/US) by the International Association of Privacy Professionals.