Servicemembers Civil Relief Act

Bank of America has a long-standing commitment to serving the financial needs of its customers who serve in the military. The bank has provided specialized financial services to military personnel since 1920, and through a partnership with the Department of Defense, we provide full-service banking to troops and contractors with nearly 80 branches and 300 ATM locations outside the U.S.

To ensure the ongoing, fair treatment of our customers serving in the military, Bank of America has introduced an enterprise-wide program designed to ensure compliance with the Servicemembers Civil Relief Act (SCRA). The following is more detailed information about SCRA and Bank of America's SCRA Compliance Program:

Bank of America Servicemembers Civil Relief Act Policy Statement

SCRA (formerly known as the Soldiers' and Sailors' Relief Act of 1940) was enacted in 2003 to enable persons in military service to devote their entire energy to the defense needs of the nation by alleviating some of their financial burden and, in certain cases, suspending enforcement of civil liabilities.

It is the policy of Bank of America to extend benefits and protections to qualified Servicemembers under the federal SCRA and generally with respect to comparable U.S. state military benefit and protection laws, as applicable. Bank of America also extends supplemental military benefits and protections beyond those required by the SCRA. Bank of America's programs for its mortgage customers serving in the military improve key benefits for those on active duty and extend mortgage protections for servicemembers beyond active duty. Programs include a principal forgiveness loan modification program for military borrowers behind on their payments when leaving active duty; a reduced interest rate on mortgages for customers who are eligible for SCRA protection; and a mortgage customer service unit dedicated to servicing military customers.

Bank of America SCRA Compliance Program

Bank of America has developed an enterprise compliance program. Key components of the SCRA Compliance Program are described below:

  • SCRA training and awareness programs for all associates.
  • Proactive outreach efforts aimed at notifying service members or their spouses of their rights and encouraging service members to contact Bank of America for additional information pertaining to SCRA rights and benefits, as well as to educate customers about other special programs and services developed by the Bank for military personnel.
  • Mandatory pre-foreclosure verifications, occurring at multiple stages, using the Department of Defense/Defense Manpower Data Center to ensure that SCRA protected active duty customers and dependents are not foreclosed or evicted from their property and places of residence.
  • Processes and verifications to prevent the repossession of personal property, such as, for example, for loan accounts secured by automobiles, boats, and recreational vehicles.
  • Application of rate reduction benefits (inclusive of costs and fees) that may be applied to eligible accounts.
  • Routine monitoring of active duty customer accounts to ensure compliance with the SCRA, and to obtain up-to-date active duty status information.
  • Audit and quality control assessments to ensure compliance with the Act and the compliance program.


  • Investors may contact us at:
  • Customers may contact us at: 
    • Mortgage (Military Assistance Team): 877.430.5434 Credit Card: 800.421.2110

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