The Servicemembers Civil Relief Act (SCRA) booklet of the Comptroller’s Handbook – which covers examination procedures focused on the law’s consumer protections for military servicemembers – has been revised by the Office of the Comptroller of the Currency (OCC), according to an agency bulletin Thursday.
The OCC says the booklet provides background information and expanded examination procedures for the 2003 SCRA. The agency also said it has rescinded OCC Bulletin 2011-16, “Servicemembers Civil Relief Act: Revised Examination Procedures”; and the “Servicemembers Civil Relief Act of 2003” booklet of the Handbook issued in May 2011.
The bulletin said the revised booklet summarizes SCRA requirements, discusses risks associated with a bank’s SCRA activities, discusses risk management of SCRA compliance, and includes examination procedures regarding a bank’s SCRA risk management and compliance.