Troutman Sanders

OCTOBER 30, 2023

On October 26, a House Financial Services subcommittee drafted legislative proposals related to the buy now, pay later (BNPL) and earned wage access (EWA) market. financial institutions. On October 26, Senator Cynthia M. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here.

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Fico Collections

JANUARY 18, 2023

The State of Responsible AI in Financial Services. The third annual State of Responsible AI in Financial Services report released today, alerting the industry to come together and self-regulate its use of AI. It’s All about Trust. . It’s clear that perceptions about responsible use of AI are shifting.

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Troutman Sanders

FEBRUARY 21, 2024

The court’s orders bar the individuals and their companies from directly or indirectly engaging in telemarketing, debt relief services, and making any misrepresentations or unsubstantiated claims about any product or service. For more information, click here.

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Troutman Sanders

NOVEMBER 27, 2023

State Activities: On November 20, North Carolina AG Josh Stein secured a court order requiring a lender to permanently shut down its operations, resolving allegations that the lender made false representations to students about job placement, saddled students with unlawful loans, and employed abusive practices to collect debt from student borrowers.

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Troutman Sanders

FEBRUARY 8, 2022

Troutman Pepper announced today that a nationally recognized consumer financial services group has joined the firm from Ballard Spahr in Atlanta, New York, Philadelphia, and Salt Lake City. The industry-leading group includes partners Christopher J. Willis , Mark J. Furletti , Jeremy T. Rosenblum , Stefanie H. Cover , and Anthony C.

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PDC Flow

MARCH 2, 2021

If you aren’t open about receiving feedback from consumers, you are likely to end up with surprise BBB or CFPB complaints. Valenzuela and Zugsay covered much more about risk and liability during their presentation. ABOUT THE AUTHOR -. The post Operational Risk Management in Financial Services appeared first on PDCflow.

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Jimerson Firm

JULY 22, 2020

That trend holds true in the financial services industry, despite such lawsuits being more commonly associated with lower paid jobs. Below, we discuss three of the most common wage and hour issues that commonly arise in the financial services industry. Marketing, servicing or promoting the employer’s financial products.

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Troutman Sanders

SEPTEMBER 5, 2023

Other risks the article associated with the BTM industry include their use in scams and money laundering, as well as the fact that they obscure a highly volatile cryptocurrency transaction as an investment promising financial stability. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

SEPTEMBER 18, 2023

Spaniel explained that he does not view this process as a “hurdle” for companies, but instead as a “necessary discussion between the supervisor and the entity” about the entity’s preparedness to offer such a product in a way that is “consistent with safety and soundness or consumer compliance.” On September 15, U.S.

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Troutman Sanders

OCTOBER 16, 2023

Katz, discovering that in 2018 and 2019 the firm had engaged in unlicensed collection activity involving about 10,000 Connecticut accounts with a total balance of $1.4 million, allegedly collecting about $81,000 of that amount.

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PDC Flow

JUNE 9, 2020

We sat down to discuss the importance of a brand strategy for financial services and ARM firms, and what that entails. The essence of your brand is how clients feel about you and what they think of you — obviously, a good brand evokes positive thoughts and feelings. Phoebe Assenza. Brand Strategist at Rhetorica Creative.

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Better Credit Blog

NOVEMBER 2, 2020

Then you may start to hear from a company called Action Financial Services. Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. Unfortunately, that is not the only bad thing about being pursued by them. What is Action Financial Services?

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Troutman Sanders

DECEMBER 5, 2022

State Activities: On December 1, the New York State Department of Financial Services (NYDFS) announced that it is seeking public comment on a proposed regulation that will permit the agency to charge the cryptocurrency companies it regulates for the costs associated with their oversight. State Activities.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? Read on to learn more about Delivery Financial Services and how to get them deleted from your report. About Delivery Financial Services. How Delivery Financial Services Works.

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Troutman Sanders

JANUARY 23, 2023

On January 18, the CFPB released the updated “Mortgage Servicing Examination Procedures,” providing transparency to stakeholders about how we do our work. On January 17, Acting Comptroller of the Currency Michael Hsu delivered remarks at the Brookings Institute about the limits of large bank manageability. and Nexo Capital, Inc.

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Troutman Sanders

JANUARY 28, 2022

2021 was a transformative year for the consumer financial services world. To access the report and view a message from Consumer Financial Services Practice Group Leader, Michael Lacy, and learn about our complementary webinar offerings, please click here. We hope this report brings you value.

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Troutman Sanders

FEBRUARY 16, 2023

(collectively “Kraken) for its offering of a “staking-as-a-service program, which the SEC alleged was “an investment contract and therefore a security whose offers and sales were subject to the registration requirements of the federal securities laws. On February 8, New York Department of Financial Services (DFS) Superintendent Adrienne A.

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Troutman Sanders

JANUARY 3, 2023

On December 28, 2022 the New York Department of Financial Services (DFS) released its revised proposed amendments to 23 NYCRR 1 — the state’s debt collection regulation. For more information, click here.

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Troutman Sanders

DECEMBER 27, 2022

On the other hand, the CFRAC assists FSOC in receiving information and analysis on climate-related financial risks from a broad array of stakeholders, including but not limited to, the financial services industry, nongovernmental research institutions, and academia. For more information, click here.

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Troutman Sanders

AUGUST 7, 2023

The letter inquired about the company’s App Store practices, and the representatives shared concerns that Apple may be using the App Store to restrict emerging technologies like blockchains, NFTs, and other distributed ledgers. For more information, click here.

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Troutman Sanders

MARCH 28, 2023

Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional — splitting from the U.S. Court of Appeals for the Fifth Circuit’s decision in Community Financial Services Association of America v. For more information about the notice, click here.

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Troutman Sanders

FEBRUARY 27, 2023

Section 604 of the Financial Services Regulatory Relief Act of 2006 requires that the agencies review information collected in the Call Reports to reduce or eliminate any requirement to file certain information or schedules if the continued collection of such information or schedules is no longer necessary or appropriate.

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Troutman Sanders

NOVEMBER 21, 2022

On November 17, CFPB Director Rohit Chopra issued prepare remarks at the Financial Literacy and Education Commission, where he spoke about consumer complaints related to crypto assets. Notable banking institutions and financial services providers will be participating in the pilot project.

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Troutman Sanders

SEPTEMBER 27, 2022

For more information about the CFTC’s recent settlement with Ooki DAO, click here. On September 22, the Department of Justice and the Internal Revenue Service announced that a federal judge granted their request for an order, authorizing the IRS to issue a John Doe summons requiring M.Y. Safra Bank to produce information about U.S.

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Troutman Sanders

MAY 9, 2023

For more information about the White House’s blog post, click here. For more information about the White House’s FY 2024 budget proposal, click here. For more information about Attorney General James’ press release, click here. For more information about the CRPTO Act, click here. billion in revenue over 10 years.

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Jimerson Firm

MARCH 24, 2021

Learn more about how we serve the Banking & Financial Services Industry, and subscribe to our industry legal blog to stay abreast of timely news and updates. The post Banking & Financial Services Industry Webinar: Properly Handling Mortgage Foreclosures appeared first on Jimerson Birr.

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Fico Collections

DECEMBER 9, 2021

This year has taught us a lot about facing adversity and handling the unexpected. As the end of the year approaches, financial institutions are preparing for 2022 by pivoting their focus towards digital transformation initiatives that add real value for their customers and their bottom line.

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Better Credit Blog

AUGUST 22, 2020

If you have an unpaid medical bill, you may begin to hear from a debt collector known as CMRE Financial Services. CMRE Financial Services is a collection agency that collects medical debts on behalf of hospitals and other healthcare businesses. What is CMRE Financial Services? Know Your Rights.

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Public Citizen

JANUARY 8, 2021

The Wall Street Journal is reporting that Representative Katie Porter may be dropped from the House Financial Services Committee.    As someone who has regularly listened to House Financial Services Committee hearings on consumer matters for years, I believe that would be a huge loss. by Jeff Sovern.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. Ask Lex Law for Help.

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Troutman Sanders

DECEMBER 12, 2022

Hsu — inquiring about the U.S. State Activities: On December 8, New York Governor Kathy Hochul announced a report from the Department of Financial Services (DFS), highlighting racial disparities in mortgage lending practices in certain parts of the state. Gruenberg, and OCC Acting Comptroller Michael J.

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True Accord

SEPTEMBER 23, 2020

Last week, Sheila Monroe, TrueAccord’s COO, was the featured guest on “Credit Eco To Go,” a consumer finance podcast hosted by Joann Needleman, a leading financial services attorney at Clark Hill. The theme was putting the “consumer” back into consumer financial services.

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Troutman Sanders

DECEMBER 20, 2022

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.

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BN Lawyers

MARCH 26, 2020

Britt Suttell, an associate in Barron & Newburger’s Pennsylvania office, was featured in an article about women in the financial services field. She was interviewed at insideARM’s Women in Consumer and Commercial Finance Conference. You can read the interview here. . Share List.

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Troutman Sanders

MAY 23, 2022

In its RFC, Commerce invites input on any matter relevant to its development of the framework, and it seeks comments on 17 specific questions about the global competitiveness of U.S. digital asset businesses, comparisons to traditional financial services and financial inclusion considerations, as well as technological considerations.

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Better Credit Blog

SEPTEMBER 9, 2020

Have you noticed a company called Phoenix Financial Services on your credit report? If you are interested in removing Phoenix Financial Services from your credit report, check out our article below for a full how-to guide on how to clean up your report and boost your score. What is Phoenix Financial Services?

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