Troutman Sanders

MARCH 11, 2024

Senator Lummis, a vocal supporter of Bitcoin, has been more critical of stablecoins, particularly Tether, and has opposed central bank digital currencies. On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry.

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Credit Corp

AUGUST 31, 2021

Judgments may give collectors additional collection powers, such as access to the money a debtor has in their bank account or the ability to garnish wages to collect the judgment. According to the Federal Trade Commission , whether or not collectors can continue to contact you about a time-barred debt is up to various state laws.

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Troutman Sanders

JANUARY 31, 2022

On January 27, the Federal Trade Commission (FTC) announced that consumers in 2021 reported losing about $770 million to fraud initiated on social media — about one fourth of all reported fraud losses for the year and an 18-fold increase from 2017, according to the FTC’s latest Consumer Protection Data Spotlight.

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Troutman Sanders

MAY 23, 2023

Notably, Chairman McHenry’s proposal would preserve the current dual banking system model and delegate “supervisory, examination, and enforcement authority” of “state qualified stablecoin payment issuers” to “state payment stablecoin regulators.” For more information, click here. On May 15, during an interview with Financial Times , U.S.

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Troutman Sanders

NOVEMBER 13, 2023

On November 8, while at the Central Bank of Ireland, Federal Reserve Governor Lisa D. On November 8, the European Banking Authority issued draft guidelines defining how stablecoin issuers should structure their risk and management recovery plans concerning reserve assets. For more information, click here.

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Troutman Sanders

DECEMBER 20, 2022

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.

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Stevens Lloyd

JULY 30, 2018

However, the trade gap between international countries and the United States has been bridged. Due to the increased level of import-export trade between the U.S. trades with, the United Kingdom has one of the lowest import/export ratios of indebtedness. and other countries, it will not be uncommon for debts to be accrued.

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Troutman Sanders

MARCH 29, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

Financial services 52

Financial services Fair Debt Collection Foreclosure Lender 52

Troutman Sanders

NOVEMBER 2, 2020

On October 23, lawmakers in the House of Representatives introduced a bill to exclude Paycheck Protection Program (PPP) loans from regulators’ calculations of the asset size of smaller banks. The legislation would benefit banks and credit unions with assets under $15 billion. For more information, click here.

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Better Credit Blog

APRIL 1, 2022

If an agreement is reached, avoid granting the company access to your bank account. The Federal Trade Commission or FTC enforces these rules, collectively known as the Fair Debt Collection Practices Act and prevents debt collectors from harassing you. CCS may haggle with you. Calling can only happen between the hours of 8 a.m.

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Better Credit Blog

JANUARY 26, 2022

The Federal Trade Commission (FTC) warns that many tax relief companies make false claims and take money upfront, but then fail to take the steps to resolve their client’s tax debts on their behalf,” says Holly Johnson over at GoodFinancialCents. Our Partner Get Started Best Customer Experience: Precision Tax Relief.

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Troutman Sanders

NOVEMBER 1, 2021

On October 29, the Federal Trade Commission (FTC) issued a new enforcement policy statement, warning companies against deploying illegal dark patterns that trick or trap consumers into subscription services. For more information, click here. For more information, click here. For more information, click here.

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Burr Forman

DECEMBER 4, 2020

California – On March 17, 2020, Child Support Services stopped automatically placing bank levies for overdue child support during the COVID-19 crisis. Legislation enacted in 2019, which prevents debt collectors from seizing certain amounts from a consumer’s bank account, went into effect on September 1, 2020.

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Troutman Sanders

DECEMBER 5, 2022

central bank digital currency (CBDC). On November 30, the Federal Trade Commission (FTC) announced that it has temporarily shut down a credit card debt relief program and its affiliated companies that allegedly took millions from consumers by falsely promising to eliminate or substantially reduce their credit card debt.

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Troutman Sanders

SEPTEMBER 29, 2020

State Activities: As of September 28, state agencies can use the State Examination System, a nationwide platform for consumer complaints created by the Conference of State Bank Supervisors. Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. For more information, click here.

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Troutman Sanders

NOVEMBER 24, 2020

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. Community banking organizations must follow different rules and requirements based on their risk profile and asset size.

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Troutman Sanders

OCTOBER 26, 2020

The task force also adopted an updated report on trade-based money laundering and recognized progress by a number of jurisdictions. The current recordkeeping and travel regulations of the Bank Secrecy Act mandate that banks collect, retain, and transmit information on fund transfers of more than $3,000 occurring outside the U.S.

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Financial services Foreclosure Financial Institution Banks 52

Troutman Sanders

JULY 7, 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. On June 30, Maine Governor Janet Mills declined to veto a new law that expands consumer protections against garnishments.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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Collection Industry News

JUNE 14, 2021

Here are snapshots of some cases against debt collectors that the State Attorney General’s Office, Federal Trade Commission and other law enforcement agencies have pursued in the past decade. Authorities raided his business in April, seized $114,063 from its bank account, and charged Bella with possessing drugs, a gun and ammunition.

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Troutman Sanders

AUGUST 9, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

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Troutman Sanders

NOVEMBER 8, 2022

On October 31, the Federal Trade Commission announced that it is taking action against an education technology provider for its lax data security practices that exposed sensitive information about millions of its customers and employees, including Social Security numbers, email addresses, and passwords. For more information, click here.

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Troutman Sanders

FEBRUARY 8, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

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Troutman Sanders

JANUARY 19, 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. Chopra is currently a chairman on the Federal Trade Commission. The Federal Reserve Banks’ 2020 estimated net income of $88.8

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Collection Industry News

JANUARY 13, 2025

They say the chains tactics drained their bank accounts, ruined their credit and, in some cases, helped push them into bankruptcy. The industry trade journal Beckers Hospital Review recently elevated Advocate to No 4 on itsrankings of the nations largest hospital chains, up from No 7 earlier this year.

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Troutman Sanders

MARCH 4, 2024

Consumers use comparison-shopping tools to evaluate the costs, features, and terms of many financial products, including credit cards, loans, and bank accounts. The circular explains how these practices may violate federal law and highlights examples of illegal arrangements. For information, click here.

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Troutman Sanders

APRIL 19, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

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Troutman Sanders

JULY 26, 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. Any attempt to garnish or otherwise seize these funds to collect or attempt to collect a debt violates the AG’s Debt Collection Regulations.”

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Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages. As part of S.

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Financial services Garnishment Debt collector Collections 52

Troutman Sanders

NOVEMBER 7, 2023

monthly from their bank account until the advance was paid off. On November 1, the OCC issued a bulletin to inform banks about policy guidance that applies to commercial loans to early, expansion, and late-stage companies. Before making any loan, bank management should identify the purpose of the loan and the source of repayment.

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Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

MARCH 15, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

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Troutman Sanders

JANUARY 25, 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. The president is expected to nominate Rohit Chopra, currently a commissioner of the Federal Trade Commission, to serve as the next CFPB director.

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Financial services Debt collector Foreclosure Banks 52

Troutman Sanders

APRIL 5, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

Financial services 52

Financial services Financial Institution Foreclosure Garnishment 52

Troutman Sanders

AUGUST 31, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. On August 21, 2020, the Connecticut Department of Banking extended its no-action memo to address branch licensing issues through 2020. On August 21, 2020, Illinois Governor J.B. For more information, click here.

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Troutman Sanders

JUNE 22, 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. Covered institutions include banks, savings associations, credit unions, and mortgage companies. For more information, click here.

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