SCRA and MLA

Note: Highnote will assist with establishing policies and procedures to verify MLA eligibility and SCRA requests for your account holders.

The Service Members Civil Relief Act (SCRA) and Military Lending Act (MLA) protect active-duty service members and their families from financial hardships and predatory lending practices:

• SCRA provides legal protections, such as interest rate caps and eviction protection.
• MLA restricts the interest rates and fees lenders charge protected individuals and families.

Compliance with SCRA and MLA is mandatory for issuers and requires the following:

• Adjusting interest rates accordingly
• Providing protections in line with SCRA and MLA laws
• Verifying military status for account holders to ensure fair treatment and financial stability for service members

Highnote applies SCRA and MLA benefits to your eligible account holders' financial accounts.

You can use the following query to find the military status on a financial account. This is essential to lookup if the financial account is eligible for SCRA or MLA benefits, and the effective dates to apply benefits.