Village Capital to Pay Over $500,000 for SCRA Violations Against Servicemembers
Village Capital & Investment LLC, a VA home loan servicer, will pay over $500,000 to resolve allegations of violating the Servicemembers Civil Relief Act by failing to apply 6% interest rate caps to at least 41 servicemembers' mortgages and retaliating against those who requested benefits. The settlement includes $425,000 in restitution and a $79,380 civil penalty.
Why it matters. This enforcement action affects servicemembers' financial protections and signals heightened regulatory scrutiny of VA loan servicers' compliance with federal military lending laws.