Retailer That Overcharged, Then Sued Military Personnel Is Going Out Of Business

Retailer That Overcharged, Then Sued Military Personnel Is Going Out Of Business

A year ago, Virginia-based USA Discounters was in the spotlight after the supposedly discount retailer — which had several locations adjoining military bases and directly marketed its financing to servicemembers — was criticized for charging ridiculously high prices on its products and then suing soldiers in such a way that they could rarely defend themselves in court. The retailer then changed its name to USA Living and promised to not be so evil, even though the lawsuits continued. Now comes news that the retailer is going to close up shop for good. [More]

Bank Of America Must Pay $30M For Military Relief Law Violations

Bank Of America Must Pay $30M For Military Relief Law Violations

The Servicemembers Civil Relief Act (SCRA) aims to protect members of the Armed Forces from unfair and harmful practices that jeopardize their financial well-being while deployed. It shouldn’t be surprising then, that failing to adhere to those protections is frowned upon by federal regulators. Just ask Bank of America, which is now on the hook for $30 million stemming from SCRA violations related to more than 73,000 servicemember accounts. [More]

Sketchy Retailer Caught Scamming Servicemembers With Pointless Fees

Sketchy Retailer Caught Scamming Servicemembers With Pointless Fees

A discount retailer that came under fire last month for its questionable lending and marketing practices received a slap on the wrist from federal regulators for allegedly tricking thousands of servicemembers into paying fees for legal protections they already had and for certain services that the company failed to provide. [More]

USA Discounters: Where A $650 Laptop Ends Up Costing Army Private $8,626

The USA Discounters website advertises its financing for military servicemembers and government employees.

A discount retailer that sells itself as being friendly to military borrowers has been pushed into the spotlight, thanks to a report highlighting questionable lending and marketing tactics that lead some borrowers into lawsuits where they can’t reasonably defend themselves. [More]

(frankieleon)

Banks Uncover Additional Wrongful Foreclosures On Military Members

The Servicemembers Civil Relief Act (SCRA) is intended, in part, to help protect active-duty members of the armed forces from having their homes taken away by foreclosure, but as we’ve seen, this hasn’t stopped banks from ignoring the law and taking those houses anyway. Now comes a report that banks have recently uncovered hundreds of additional wrongful foreclosures on the homes of servicemembers. [More]

Why Do So Many Servicemembers Not Receive Mortgage Protections They Have Legal Right To?

Why Do So Many Servicemembers Not Receive Mortgage Protections They Have Legal Right To?

The Servicemembers Civil Relief Act (SCRA) includes a number of protections for members of the armed forces who took out a mortgage before going on active duty. But as we have learned in recent years, there are at least 15,000 instances where banks failed to follow those guidelines — and hundreds — perhaps thousands of times where lenders have illegally foreclosed on servicemembers’ homes. [More]