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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Consumers use comparison-shopping tools to evaluate the costs, features, and terms of many financial products, including credit cards, loans, and bank accounts. Additionally, the company is required to pay $25,000 to the AG’s office, which will be used for public protection and educational purposes. For information, click here.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

On May 3, the CFPB issued an advisory after student loan borrowers submitted complaints regarding companies that promised them student loan forgiveness or loan forbearance in exchange for fees amounting to hundreds or thousands of dollars. trillion to the federal government. For more information, click here.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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. Borrowers deserve and desperately need relief from their Federal student loan burden, and they need that relief immediately.”

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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. The report said that low acquisition costs often come coupled with higher interest rates and limited opportunities to refinance.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

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. For more information, click here.

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Mibanco Expands Microlending, Helps Customers During Pandemic

Fico Collections

Loans That Improve Lives. million loans worth about USD$3.7B These loans are often life-changing, allowing individuals to build businesses, access housing and education. Mibanco’s goal is to expand access to credit for the unbanked or credit invisible,” said Sebastián Valera, risk transformation manager at Mibanco.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On June 7, the FTC announced that it is seeking public comments and suggestions on ways it can work more effectively with state attorneys general nationwide to help educate consumers about, and protect them from, potential fraud. For more information, click here. For more information, click here. For more information, click here.