On June 10, 2016, the Office of the Comptroller of the Currency (OCC) released a bulletin stating that the extended protections of the Servicemembers Civil Relief Act’s (SCRA), enacted by the Foreclosure Relief and Extension for Servicemembers Act of 2015, are extended through December 31, 2017. SCRA, as well as the Foreclosure Relief and Extension for Servicemembers Act of 2015, protects active servicemembers as well as those servicemembers out of active duty for up to one year, in matters relating “to the sale, foreclosure, or seizure of the servicemember’s mortgaged property, or the filing of a legal action to enforce a mortgage obligation or other similarly secured obligation.”

This bulletin informs national banks, federal savings associations, and federal branches and agencies of foreign banks of the temporary extension of certain protections under the Servicemembers Civil Relief Act enacted by the Foreclosure Relief and Extension for Servicemembers Act of 2015.

Source: OCC: Servicemembers Civil Relief Act: Extension of Time Period for Certain Protections