Consumer Finance
APRIL 30, 2023
The Consumer Financial Protection Bureau (CFPB) proposed a rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans.
Debt Recoveries
APRIL 30, 2023
It might be difficult to deal with debtors who are reluctant to pay. When seeking to collect debts, business owners and organisations confront a variety of challenges, and there are numerous reasons why a debtor might not pay on time. While some excuses can be valid, some might be personal, or they might just be putting off paying for their own convenience.
Collection Industry News
APRIL 30, 2023
On April 26, the Consumer Financial Protection Bureau (CFPB or Bureau) 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 (FDCPA). According to the CFPB, the impetus for issuing the advisory opinion was “a series of actions by debt collectors attempting to foreclose on silent second mortgages, also known as zombie mortgages, that con
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