I recently applied for SCRA benefits in the state of Louisiana. With the extended provisions in the state, most companies accepted and are refunding as well as dropping interest anywhere between 0% to 6%. Idaho Central Credit Union on the other hand has denied it multiple times. I sent them federal regulations along with state law. These clearly state that the laws extend to where the SM is stationed, not where the company is located. ICCU has denied it and said they only have to follow Idaho laws. I filed a CFPB complaint along with a Department of Justice complaint. What is my next step?
Louisiana SCRA Benefits denied
byu/twisted_berries inMilitaryFinance
Posted by twisted_berries
3 Comments
A quick search showed no ICCU branches open outside Idaho. This means that they’re right and give no fucks about LA laws, regardless of how the LA law is worded.
They should, however, abide by the federal SCRA provivions.
Why would Idaho Central Credit Union have to obey a Louisiana State Law?
Are they not following federal SCRE guidelines? If so, what part do you think the are not following?
That’s crazy. My bank actually sent me a letter saying they found out I was on orders and was eligible for SCRA. I think I would start by asking to speak to someone higher up at the bank and go from there. It may be a lower level employee not aware of the law. You’ll have to seek legal counsel or reach out to the AG if you can’t get thru to your bank and that’s going to be a headache.