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Americans’ debt surpasses $17 trillion for the first time

Collection Industry News

from the fourth quarter of last year, the Federal Reserve Bank of New York reported Monday. During the first quarter, the increases in debt were seen across practically all categories, with larger (and new record) balances for mortgages, home equity lines of credit, auto loans, student loans, retail cards and other consumer loans.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. Federal Activities: On March 6, the U.S. State Activities. Senate passed a $1.9

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Amateurism vs. ProfessionalismAlabama Bypasses The National Collegiate Athletic Association and Enacts Law Allowing Collegiate Student Athletes to Receive Compensation For Their Names, Images, and Likenesses.

Burr Forman

The NCAA is undoubtedly looking to the United States Congress to pass a federal law that would supersede state laws, create uniform NIL compensation rules, and protect the NCAA from legal actions. Lawrence is a lawyer in Burr & Forman’s Birmingham office, where he is a member of the corporate and tax practice group. 2] [link]. [3]

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US Treasury Secretary Janet Yellen Discusses Digitization of the American Economy; States Digital Asset Regulation Should Be “Tech Neutral”

Troutman Sanders

Although Yellen believes “it’s too early to tell,” she briefly discussed the Federal Reserve’s plan to launch its proprietary program, FedNow, in 2023. Retail investors often trade stablecoins, a category of digital assets that can be pegged to the U.S. federal agencies be necessary to foster growth and stability, but the U.S.

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CFPB Expansion Of States’ Enforcement Authority May Be Illegal

Collection Industry News

These concerns have been expressed through high-visibility statements that have included congressional testimony and speeches before trade associations and consumer advocacy groups—all of which have raised the alarm by financial intermediaries of the threat of imminent and severe federal enforcement actions. A Little History.

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