Burr Forman

JANUARY 29, 2021

29, 2006), the plaintiff had made multiple late payments on her car loan before paying the loan off entirely. 12-6238 (PGH) (LHG), 2014 WL 647970 (D.N.J. In May of 2015, Judge Froeschner of the Southern District of Texas departed from these holdings when he denied summary judgment in Macik v. May 28, 2015).

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Troutman Sanders

OCTOBER 12, 2021

The case began when Cheatham defaulted on a car loan and surrendered the vehicle, which was sold at auction. Because the sale of the car did not cover the full balance on the auto loan, Adams filed a lawsuit against Cheatham in state court to obtain a deficiency judgment on behalf of her client. . 330 (2015) and TransUnion v.

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Fico Collections

DECEMBER 8, 2022

Thu, 12/19/2019 - 16:29. Thu, 12/08/2022 - 16:00. Figure 3 shows auto finance risk performance through the benign economy of October 2013 to October 2015. Default rates by FICO® Auto Score 8 and FICO® Resilience Index 2 – unstressed economy (Oct 2013 to Oct 2015). FICO Admin. by David Binder. Senior Director, Scores.

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Troutman Sanders

APRIL 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On April 12, the Federal Reserve Board (Board) announced that it is accepting applications for membership on the Community Advisory Council (CAC).

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Consumer Financial Services Law

JUNE 11, 2016

The proposed rule comes as no surprise to anyone who read the CFPB’s 2015 arbitration report which was hugely critical of class action bans in arbitration clauses. Proposed 12 CFR 1040.3 Proposed 12 CFR 1040.4(a)(1). Proposed 12 CFR 1040.4(a)(2)(i). Proposed 12 CFR 1040.4(a)(2)(ii). Who’s Covered?

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Jimerson Firm

JANUARY 16, 2023

2015) (holding a plaintiff may recover actual damages for emotional distress, including stress, anxiety, and sleeplessness under the FDCPA and FCCPA); Fini v. 2015), the plaintiffs were each entitled to $50,000 in actual damages for emotional distress for the defendant’s violations of the FDCPA and the FCCPA. Bank of America, N.A. ,

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Better Credit Blog

APRIL 1, 2022

If you need money now, an online personal loan can be a fast and easy way to secure funds. Whether they’re for debt consolidation, a home improvement project, or other expenses, these loans often come with low-interest rates and flexible repayment options. Ad If you're struggling to make ends meet, a Personal Loan can help.

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Troutman Sanders

OCTOBER 4, 2022

The SEC alleged that Chavez functioned as an unregistered investment adviser in violation of federal securities law, and together, he and Benvenuto raised over $12 million from approximately 5,000 investors. The exams found that these schools had improper blanket policies of withholding transcripts to force students to make payments.

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FDCPA Defense

JANUARY 22, 2017

2015) (district court abused discretion certifying FDCPA class “by failing to conduct rigorous analysis. 2015) (reversing certification of FDCPA class where, inter alia , to resolve plaintiff’s theory of liability, every state-court collection lawsuit needed to be reviewed). Countrywide Home Loans, Inc., Falcon , 457 U.S.

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FDCPA Defense

FEBRUARY 1, 2018

1992) (emphasis added, citation and quotation marks omitted) (personal loan from friend used to start software business not a “debt” under the Act: “The [FDCPA] characterizes debts in terms of end uses. [n]either n]either the lender’s motives nor the fashion in which the loan is memorialized are dispositive of the inquiry”).

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Credit Corp

MARCH 20, 2023

Loan or lease fraud 197,914 -3.4% Type of identity fraud Cases reported in 2021 Percent change from 2020 Government documents or benefits fraud 395,948 -2.5% Credit card fraud 389,737 -.8% 8% Other identity theft 377,102 6.7% Bank fraud 124,388 39% Employment or tax-related fraud 111,723 -1.5% Year Losses inside the U.S. (in 2016 $9 $13.8

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Troutman Sanders

JANUARY 23, 2024

billion in additional student loan debt relief for 73,600 borrowers. These discharges are the result of fixes to income-driven repayment (IDR) forgiveness and public service loan forgiveness (PSLF) made by the administration. On January 19, the Biden-Harris administration announced the approval of $4.9 For more information, click here.

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Troutman Sanders

JUNE 27, 2023

Throughout 2015 and 2016, a customer of Swedbank Latvia used Swedbank Latvia’s e-banking platform from an internet protocol address in Crimea to send payments to persons in Crimea through U.S. Swedbank Latvia agreed to remit $3,430,900 to settle its potential civil liability for 386 apparent violations of OFAC’s Crimea sanctions.

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Troutman Sanders

JANUARY 17, 2023

On January 12, the Bank for International Settlements issued a bulletin, addressing the recent high-profile failures of crypto firms that have reignited the debate on the appropriate policy response to address the risks in crypto. On January 12, the U.S. For more information, click here. For more information, click here.

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Collection Industry News

APRIL 6, 2023

WASHINGTON — The Supreme Court on Thursday refused to block a class-action settlement that forgave $6 billion in federal loans for students at for-profit schools or vocational programs. A federal law allows the education secretary to cancel federal loans based on misconduct by the borrower’s school. There were no noted dissents.

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