True Accord
AUGUST 11, 2022
In order to address this gap, lenders are in a unique position to help provide customers with educational content that not only improves customers’ financial literacy but helps with their own retention and acquisition strategies by building and maintaining customer trust and loyalty. Debt levels are on the rise again: according to the?
Troutman Sanders
FEBRUARY 22, 2021
The letter states that “[b]road cancellation of Federal student loan debt will provide immediate relief to millions who are struggling during this pandemic and recession, and give a much-needed boost to families and our economy. The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S.
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Troutman Sanders
JULY 12, 2021
This brings total loan cancellation based on borrower defense by the Biden administration to over $1.5 On July 9, President Joe Biden issued an executive order, requiring federal regulators to increase scrutiny of mergers and acquisition within the banking industry. billion for nearly 92,000 borrowers. For more information, click here.
Troutman Sanders
MAY 9, 2022
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. For more information, click here.
Collection Industry News
JULY 6, 2021
These non-public actions have occurred in areas such as auto loan servicing, consumer reporting, debt collection, deposits, fair lending, mortgage origination and servicing, private student loan origination, payday lending, and student loan servicing. important; font-size: 16px; }.uc1431124d58f0275524edb4a186458e3:hover.postTitle
Troutman Sanders
JANUARY 26, 2021
Uejio currently serves as the chief strategy officer, and he previously served as the acting deputy chief of staff and lead for talent acquisition. The CFPB under Chopra is also expected to closely examine the COVID-19 response from banks, consumer reporting agencies, debt collectors, and mortgage and student loan servicers.
Troutman Sanders
JUNE 14, 2023
On June 7, the CFPB released a blog discussing the fact that the pause on federal student loan interest, payments, and collections is now scheduled to end 60 days after June 30, which means borrowers will have to start making payments soon. For more information, click here. For more information, click here. The bill also amends C.R.S.
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