By Lisa Hochgraf
Military service families need you ... to be up on the financial rules that apply to U.S. service men and women, especially while they're in harm's way. By knowing and aplying the rules, you'll be doing a good turn to some of the most courageous of your members, plus you'll avoid potential PR headaches, like what JP Morgan Chase has faced last month.
The rules, such as how much interest active duty service members can be charged on their mortgages, are outlined in the Servicemembers' Civil Relief Act of 2008, which updates and expands upon the Soldiers' and Sailors' Relief Act.
CUES member Steve Eisenberg, EVP of Pentagon Federal Credit Union, Alexandria, Va., has provided a monograph about the law. CUES members can access it by logging into cues.org, then choosing "Members Share," and searching for "Eisenberg."
Then, to see what can happen if mistakes are made in this area, check out this video and article about JP Morgan Chase's missteps.
Lisa Hochgraf is a CUES editor.
