Katabat

NOVEMBER 5, 2021

This means that our industry can do a lot of good by working with consumers to help reduce their debt, and by offering robust omnichannel communications to allow consumers to communicate with debt collectors using their preferred method of communication (as some find it intimidating to talk over the phone about debt issues.)

Unsecured Debt 52

Unsecured Debt Banks Credit Card Debt Government 52

Troutman Sanders

JANUARY 22, 2021

On January 14, 2021, the Court of Common Pleas in Cuyahoga County, Ohio denied a healthcare foundation’s motion to dismiss, ruling that healthcare clinics and hospitals are not “physicians,” as that term is defined in the Ohio Consumer Sales Practices Act, and accordingly, are not exempt from liability resulting from consumer transactions.

Healthcare 52

Healthcare Debt collector 52

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. The protections are set to expire on February 1, 2021.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

FEBRUARY 2, 2021

The new deadline is March 31, 2021. On January 21, the Federal Reserve Board approved reappointment of 12 Federal Reserve Bank presidents and 11 first vice presidents. Borrowers may obtain up to six months of an initial pause in their mortgage payments. For more information, click here. For more information, click here.

Financial services 40

Financial services Foreclosure Banks Debt collector 40

ABI

JANUARY 12, 2022

The Fair Debt Collection Practices Act (FDCPA) generally prohibits debt collectors from misrepresenting their identity or using unfair practices to collect debts. [1] NPAS), a debt collector, was hired by Stonecrest to collect the outstanding balance from Ward. [5] 1692 (2021); Ward v. 2] In Ward v.

Debt collector 40

Debt collector Judgment Debtor Fair Debt Collection 40

Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Examiners found that debt collectors continued collection attempts for work-related medical debt after receiving sufficient information to render the debt uncollectible under state worker’s compensation law.

Financial services 52

Financial services Financial Institution Debt collector Fair Debt Collection 52

Troutman Sanders

JUNE 21, 2022

On June 16, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2021 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,338 U.S. Marshals Service’s management of seized cryptocurrency, covering the period from fiscal years 2017 through 2021.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

MARCH 21, 2022

On March 11, Britain, Canada, France, Germany, Italy, Japan, and the United States (collectively, the G7) announced more sanctions against Russia, including first-time sanctions specific to virtual assets. The bill further “establishes debt collection protections during a public health emergency declared by the Mayor.”

Financial services 52

Financial services Financial Institution Manufacturing Debt collector 52

Troutman Sanders

JUNE 15, 2021

State Activities: On June 11, Connecticut Attorney General William Tong and D.C. On June 8, California Attorney General Rob Bonta warned “financial institutions, creditors and debt collectors that it is illegal to seize federal Child Tax Credit payments for individual debts in California.”

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Troutman Sanders

MARCH 14, 2023

According to Liang, “114 countries … are exploring a CBDC … [and] 11 countries have fully launched CBDCs ….” In 2021, FinCEN saw a 23% increase in the number of check fraud-related suspicious activity reports (SARs). For more information, click here. Mail after a nationwide surge in such activity.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MARCH 6, 2023

According to Liang, “114 countries … are exploring a CBDC … [and] 11 countries have fully launched CBDCs ….” In 2021, FinCEN saw a 23% increase in the number of check fraud-related suspicious activity reports (SARs). For more information, click here. Mail after a nationwide surge in such activity.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MAY 31, 2023

The FTC alleges that most consumers did not see the advertised benefit from the company’s services, and were left with more debt and no measurable improvement to their credit scores. On May 11, Governor Kim Reynolds signed HF675, revising various provisions of the state’s Uniform Money Transmission Modernization Act.

Financial services 52

Financial services Financial Institution Banks Trade 52

Troutman Sanders

MAY 2, 2023

On April 28, the CFPB issued an interim final rule, amending the agency’s 2021 LIBOR transition rule. On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act.

Financial services 52

Financial services Trade Consumer Credit Government 52

Troutman Sanders

JUNE 28, 2021

On June 23, the Federal Reserve announced that it would continue its Fed Listens initiative in 2021 to learn from a broad range of individuals, households, and communities about the economic recovery from the COVID-19 pandemic. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Collection Agencies Collections Agency 52