Katabat

MARCH 30, 2021

That’s the headline from a recent NBC News story about the millions of Americans who have deferred payment on mortgages, rent, student loans and utility bills. 26% of Consumers Have a Third-Party Collection Tradeline on Their Credit Report. But So Did Household Debt. What happens when those end?”.

Student loans 52

Student loans Student Loans Garnishment Banks 52

Troutman Sanders

JUNE 21, 2022

Covered institutions include banks, savings associations, credit unions, and mortgage companies. As the most comprehensive publicly available information on mortgage market activity, HMDA data is used by industry, consumer groups, regulators, and others to assess potential fair lending risks and for other purposes.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

Collection Industry News

MARCH 15, 2021

The DFPI is aggressively exercising its new authority to regulate a large group of newly covered financial services, including debt collectors, credit reporting and credit repair agencies, debt relief agencies and others.

Foreclosure 40

Foreclosure Student loans Student Loans Debt collector 40

Collection Industry News

MARCH 28, 2022

The Department has also begun licensing debt collectors. Complaints submitted under the new law, which covered debt collection activities in the first year, increased each quarter with a dramatic surge in the second half of the year when CCFPL complaints increased nearly 140 percent.

Debt collector 40

Debt collector Education Credit Unions Credit Unions 40

True Accord

JULY 5, 2022

1.75% with the central bank expected to deliver more 50+ basis point rate hikes this year. While the markets are pricing these into forecasts , consumers will feel them more acutely in a number of ways. After another rate hike in June, the federal interest rate sits at 1.5-1.75% Key Factor 4: Regulatory and Compliance Guidelines.

Lender 52

Lender Debt collector Loans Personal loans 52

Collection Industry News

MAY 18, 2021

While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.

Lender 40

Lender Foreclosure Collections Debt collector 40

Troutman Sanders

DECEMBER 21, 2021

The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology. Department of Education’s decision to terminate its federal student loan contracts with private collection agencies. For more information, click here.

Financial services 52

Financial services Credit Unions Credit Unions Third-party Debt Collectors 52

Troutman Sanders

OCTOBER 30, 2023

The court’s ruling follows a period of mounting pressure on the Texas federal court and the CFPB by banks and financial institution trade associations advocating for the nationwide extension of a July 31 injunction, which enjoined the CFPB from implementing and enforcing the Final Rule against the plaintiffs and their members.

Financial services 52

Financial services Financial Institution Trade Banks 52

Credit Corp

JUNE 3, 2020

When you borrow money, you are legally required to repay the debt. This includes opening a credit card account, getting a line of credit from your bank and obtaining financing for a big purchase. A consumer law attorney can help you understand your state’s laws on judgment collections. Nonwage garnishment.

Judgment 98

Judgment Garnishment Creditors Law Firms 98

Better Credit Blog

MAY 12, 2022

It’s still possible you could see a judgment pulling down your credit score. When you owe money to a credit card company, public utility, or bank, or any other creditor, you could be sued in civil court. Just like with consumer credit, debt from a civil judgment must be validated under the Fair Credit Reporting Act.

Judgment 71

Judgment Creditors Debt collector Collection Agencies 71

Credit Corp

MAY 30, 2023

That means judgment creditors can seek debt payment from more than your wages and bank accounts. These payments are sent to the judgment creditor until your debt is paid. The Consumer Credit Protection Act caps these types of garnishments. Some states add even more restrictions to the garnishment of bank funds.

Judgment 98

Judgment Garnishment Creditors Law Firms 98

Troutman Sanders

OCTOBER 4, 2021

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. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability.

Financial services 52

Financial services Financial Institution Foreclosure Student loans 52

Troutman Sanders

APRIL 4, 2022

On March 30, the Consumer Financial Protection Bureau (CFPB) sanctioned Edfinancial for deceiving student loan borrowers about their eligibility for Public Service Loan Forgiveness, and the steps they could have taken to obtain loan cancellation. For more information, click here. For more information, click here.

Financial services 52

Financial services Loans Banks Student loans 52

Troutman Sanders

AUGUST 31, 2020

Federal Activities: During the week of August 24, 2020, the Consumer Financial Protection Bureau (CFPB) updated pages relating to student loans and its guidance on protecting credit during COVID-19. ” Additionally, the CFPB recently released additional resources for Spanish speakers, which can be viewed here.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Better Credit Blog

JANUARY 20, 2022

The only problem came when after not paying on an account for 6–7 months, I came to find out that Freedom Debt Relief couldn’t settle this particular account. It was for a PMSI loan for an outdoor wood burning furnace. I had to make my own payment arrangements with the debt collector so that we could keep our furnace.

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76