SCRA protections and benefits remain high risk areas for financial services companies. Regulators continue to enforce the rights of servicemembers through informal and formal enforcement actions, civil money penalties, remediation for customer harm, credit repair of affected servicemembers, and necessary enhanced risk and control measures.
Alvarez & Marsal’s (A&M) Financial Industry Advisory Services (FIAS) practice has a distinctive history of providing preventive, remedial advisory, and implementation services for its clients. Our strong partnerships with clients provide proactive self-identification of issues and successful mitigation of SCRA risk. We have completed SCRA risk reviews and remediation activities with regional, super-regional, and the top four U.S. banks, resulting in favorable regulatory outcomes and significant cost avoidance.