Troutman Sanders

JANUARY 17, 2024

bankruptcy filings surged by 18% in 2023, reaching a total of 445,186 cases, up from 378,390 in 2022. On January 11, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies to address inaccurate background check reports, as well as “sloppy” credit file sharing practices.

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Troutman Sanders

JANUARY 10, 2023

At the time Celsius filed for bankruptcy on July 13, 2022, it had approximately 600,000 Earn Accounts, which consisted of $4.2 At the time Celsius filed for bankruptcy on July 13, 2022, it had approximately 600,000 Earn Accounts, which consisted of $4.2 For more information, click here. On January 4, the U.S.

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Troutman Sanders

NOVEMBER 21, 2023

On November 16, the Justice Department, in close coordination with the Department of Education, announced a successful first year of the new process for handling cases in which individuals seek to discharge their federal student loans in bankruptcy. For more information, click here. For more information, click here.

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Troutman Sanders

JANUARY 28, 2022

2021 was a transformative year for the consumer financial services world. To access the report and view a message from Consumer Financial Services Practice Group Leader, Michael Lacy, and learn about our complementary webinar offerings, please click here. We hope this report brings you value.

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Troutman Sanders

DECEMBER 5, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. inquiring into the policies and procedures Coinbase has in place to protect its customers’ assets in the event of bankruptcy.

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Troutman Sanders

NOVEMBER 15, 2022

On November 11, prominent cryptocurrency exchange FTX abruptly filed for Chapter 11 bankruptcy and founder Sam Bankman-Fried resigned as CEO. John Ray III, a well-known bankruptcy attorney who administered now-defunct energy giant Enron’s 2001 Chapter 11 restructuring, will replace Bankman-Fried as CEO of FTX.

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Financial services Student loans Student Loans Trade 52

Troutman Sanders

APRIL 18, 2023

On April 19, the House of Representatives Committee on Financial Services will hold a hearing on “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” On April 12, the attorneys representing defunct cryptocurrency exchange FTX in its bankruptcy proceeding announced that FTX recovered approximately $7.3

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Troutman Sanders

FEBRUARY 6, 2023

Genesis Global Capital LLC (Genesis), the entity responsible for providing interest payments to Gemini Earn accountholders, filed for bankruptcy on January 20 after announcing its decision to pause withdrawals of Gemini Earn deposits. For more information about the Axios report, click here. For more information, click here.

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Troutman Sanders

MARCH 2, 2021

2020 was a transformative year for the consumer financial services world. We hope you find this helpful as you navigate the evolving consumer financial services landscape. Access full report here.

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Financial services Bankruptcy Consumer Credit Banks 52

Troutman Sanders

JANUARY 17, 2023

On January 13, the Federal Reserve Board (Fed) released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. On January 13, the Fed announced preliminary financial information, indicating that the Federal Reserve Banks had estimated net income of $58.4

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Financial services Student loans Student Loans Education 52

Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. What is a Bad Faith Filing in Bankruptcy?

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Jimerson Firm

MARCH 24, 2021

The borrower filed for bankruptcy during the foreclosure lawsuit. Learn more about how we serve the Banking & Financial Services Industry, and subscribe to our industry legal blog to stay abreast of timely news and updates. The borrower passed away before or during the foreclosure lawsuit.

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Troutman Sanders

DECEMBER 27, 2022

On the other hand, the CFRAC assists FSOC in receiving information and analysis on climate-related financial risks from a broad array of stakeholders, including but not limited to, the financial services industry, nongovernmental research institutions, and academia. For more information, click here.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? Read on to learn more about Delivery Financial Services and how to get them deleted from your report. About Delivery Financial Services. How Delivery Financial Services Works. Ask Lex Law for Help.

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Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy. What is a Bad Faith Filing in Bankruptcy?

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Troutman Sanders

DECEMBER 1, 2022

In this episode of The Crypto Exchange , Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes back Deborah Kovsky-Apap to discuss the recent FTX bankruptcy and other bankruptcy-related developments in the crypto space.

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Troutman Sanders

OCTOBER 4, 2022

On September 29, an independent examiner was appointed in the Celsius bankruptcy case. 8985 has been referred to the House Committee on Financial Services for its consideration. These findings come after the CFPB announced earlier this year that it would examine the operations of colleges that operate lending businesses.

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Financial services Trade Retail Banks 52

Troutman Sanders

MARCH 4, 2021

Troutman Pepper attorneys’ David Anthony , Ashley Taylor , Alan Wingfield , Dascher Pasco , Leah Tedford , joined by other consumer financial services experts co-authored the American Bar Association Business Law Section book, “ Consumer Finance Law: Understanding Consumer Financial Services Regulations.”.

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Troutman Sanders

APRIL 18, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled, “ Busting myths about bankruptcy and private student loans.” In the post, the CFPB argues that certain private education loans can be discharged in bankruptcy.

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Troutman Sanders

DECEMBER 20, 2022

Proposition 209 has been touted as a way to protect Arizonans with medical debt from bankruptcy, has set new exemption limits on property subject to debt collection, and has decreased the portion of a judgment debtor’s income subject to garnishment. For more information, click here.

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Financial services Student loans Student Loans Loans 52

Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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BN Lawyers

JUNE 12, 2023

Now the parent company for Lexington Law and CreditRepair.com has filed for bankruptcy protection. Manny Newburger and Stephen Sather will be two of the panelists discussing what this bankruptcy case means for the ARM industry in a webinar sponsored by AccountsRecovery.net.

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Account Recovery

OCTOBER 14, 2020

Gregory will work both with the firm’s Consumer Financial Services Law Group, and with its Bankruptcy and Reorganization Practice Group. AUSTIN, TEXAS, UNITED STATES, October 13, 2020 — Gregory M. Friedman has joined Barron & Newburger as an attorney in the firm’s Austin office.

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PBWT

JANUARY 30, 2023

The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors. A recent decision from the United States Bankruptcy Court of the Southern District of New York illustrates such a situation.

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Troutman Sanders

JULY 31, 2023

In April, we discussed how Colorado’s state supreme court issued its highly anticipated decision confirming a borrower’s bankruptcy discharge does not accelerate secured installment debt or trigger the final statute of limitations period to recover the debt. Kurtz and Merritt v. USAA Federal Savings Bank.

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Troutman Sanders

APRIL 28, 2023

Colorado just became the latest state to recognize that a borrower’s bankruptcy discharge does not accelerate secured installment debt or trigger the final statute of limitations period to recover the debt. On April 24, the Colorado Supreme Court issued a highly anticipated decision, available here.

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Troutman Sanders

JULY 26, 2021

Resolution plans describe the company’s strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure. For more information, click here.

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Financial services Student loans Student Loans Garnishment 52

Consumer Financial Services Law

JULY 21, 2021

Bankruptcy Court for the Eastern District of North Carolina. The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). By: Landon G. Lorenzen , 139 S.

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Troutman Sanders

FEBRUARY 8, 2021

Senators Tammy Baldwin, Sheldon Whitehouse, Sherrod Brown, Elizabeth Warren, and Richard Blumenthal introduced the Medical Bankruptcy Fairness Act of 2021. The act would reform the current bankruptcy code due to the COVID-19 pandemic. On February 2, U.S.

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Financial services Foreclosure Student loans Student Loans 52

Consumer Financial Services Law

AUGUST 27, 2019

Enloe A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and circumstances surrounding the communications. By Caren D. 21st Mortg. 427 (2019).

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Consumer Financial Services Law

MARCH 15, 2019

A district court in Michigan recently dismissed an FDCPA action, holding that a letter which included a bankruptcy disclaimer was for informational purposes only and did not violate the FDCPA. The case centers around a single letter and a bankruptcy disclaimer. In 2015, Tyler’s mortgage debt was discharged in bankruptcy.

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Burr Forman

AUGUST 19, 2021

David Houston IV – Nashville, Litigation and Bankruptcy. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Christopher Carson – Commercial Litigation, Litigation – Bankruptcy, Mass Tort Litigation / Class Actions – Defendants. Ronald Farley – Birmingham, Administrative/Regulatory Law.

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Troutman Sanders

NOVEMBER 4, 2020

CDIA Guidance for Forbearance & Natural Disaster Credit Reporting; Bankruptcy Reporting & Considerations. Key topics to be discussed: The “CARES” Act. Amendment to the FCRA. CFPB Policy Statements on Credit Reporting. CDIA Guidance for CARES Act. Key State Actions on Credit Reporting.

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Financial services Consumer Credit Bankruptcy Collections 52

Consumer Financial Services Law

SEPTEMBER 13, 2016

A recent decision from a North Carolina Bankruptcy Court emphasizes the need for proper training for those who file proofs of claim on behalf of anyone providing consumer credit, including healthcare providers. The court went on, however, to award sanctions for violation of Bankruptcy Rule 9037. In re Branch, 2016 Bankr.

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Consumer Financial Services Law

MAY 16, 2017

Johnson in the Lower Courts Aleida Johnson filed her Chapter 13 bankruptcy petition in 2014. Midland moved to dismiss asserting that Johnson’s FDCPA claims were precluded by the Bankruptcy Code. On appeal, the Eleventh Circuit reversed, holding that the Bankruptcy Code and FDCPA were not in irreconcilable conflict. 3d at 1341.

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UK debt collections

NOVEMBER 16, 2022

Over a million people and businesses could be owed money in the UK following the collapse of the crypto exchange FTX, according to bankruptcy filings. In the UK, crypto assets are largely unregulated, and experts and financial watchdogs warn there’s little protection for consumers. Not many options.

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Consumer Financial Services Law

MAY 12, 2017

A New York District Court recently tackled the intersection between bankruptcy and pre-petition FDCPA claims and the application of judicial estoppel to undisclosed claims. Shortly after filing suit, Jeziorowski filed bankruptcy pursuant to Chapter 7. Jeziorowski v. Jeziorowski v. Credit Prot. LEXIS 66084 (W.D.N.Y.

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