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Q2 Industry Insights: Higher Monthly Expenses for Consumers, Regulatory Guidance for Financial Institutions

True Accord

The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. Debt increases showed up across almost all categories, with larger balances for mortgages , home equity lines of credit, auto loans, student loans , retail cards and other consumer loans.

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How to Remove TransWorld Systems From Your Credit Report

Better Credit Blog

A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. For this, I suggest you check out Credit Saint. Ads by Money.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders. On June 26, Minnesota Governor Tim Walz signed into law a bill that expands the regulation of the accounts receivable management industry to include debt buyers and affiliated companies.

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DEBT COLLECTION INDUSTRY DEEMS ITSELF ESSENTIAL TO “FINANCIAL HEALTH” OF CONSUMERS, FIGHTS COVID-19 SHUTDOWN

Collection Industry News

The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. While debt collectors lobby to maintain business operations, representatives of firms that issue credit card, car loans, and online consumer loans, are lobbying for access to bailout money.