Troutman Sanders

DECEMBER 21, 2021

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.

Financial services 52

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

The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. The law does not apply to collecting from businesses. Credit Counselor.

Credit Counselor 59

Credit Counselor Garnishment Fair Debt Collection Debt settlement 59

Troutman Sanders

MARCH 15, 2021

The American Rescue Plan provides $1,400 direct payments to individuals making up to $75,000 annually, $350 billion in aid to state and local governments, and $14 billion for vaccine distribution. House of Representatives that seeks to amend the Fair Credit Reporting Act to exclude COVID-19-related evictions from consumers’ credit reports.

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Fico Collections

FEBRUARY 7, 2023

Saxon Shirley Fri, 05/20/2022 - 06:06 by FICO expand_less Back To Top Tue, 02/07/2023 - 19:10 As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem. million previously “unscorable” consumer files. Read the full post 3.

Credit Bureau 52

Credit Bureau Loans Consumer Credit Lender 52

CSA

NOVEMBER 29, 2019

What can the public sector learn from the private sector in terms of best-practice debt collection? The UK government has been building closer working partnerships with the debt collection and debt advice sectors since 2016 when it established a ?Fairness This includes applying the Cross-Government Debt Management Strategy?s

Government 40

Government Collections Debt Management Collection Agencies 40

Troutman Sanders

JUNE 14, 2023

The bill exempts certain accounts that originate in the Department of Revenue from the general requirement to assign liquidated and delinquent accounts to a private collection agency within one year of the most recent payment on the account. On June 7, Oregon Governor Tina Kotek signed SB 981 into law. For more information, click here.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Collection Industry News

AUGUST 30, 2021

of Americans had medical debt in collections as of June 2020, according to a study from the Journal of the American Medical Association (JAMA), which analyzed consumer credit reports between January 2009 and June 2020. They have discount cards as long as you are not on any kind of government insurance.”. Story continues.

Third-party Debt Collectors 52

Third-party Debt Collectors Credit Card Debt Collections Government 52

Troutman Sanders

MAY 9, 2023

On May 4, the White House published technology standard document “United States Government National Standards Strategy for Critical and Emerging Technology.” For more information, click here. competitiveness and national security ….” On May 4, Colorado Governor Jared Polis signed SB93 into law. HB1443 will go into effect on November 1.

Financial services 52

Financial services Student loans Student Loans Loans 52

Fico Collections

FEBRUARY 16, 2021

It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules. But more tellingly, the penalty related to the mistreatment of business and personal customers who fell behind on credit card and loan payments between 2014 and 2018 – well before many of us had even heard of COVID-19.

Lender 52

Lender Collections Acquisition Loans 52

Collection Industry News

JULY 20, 2020

While a Federal District Court shot down Healey’s mandate for the time being, it is important to note that any measure restricting consumers’ access to critical financial information leaves them in the dark at the worst possible time. Currently, many small- and medium-sized businesses need our help as they are struggling to stay afloat.

Debt collector 40

Debt collector Collection Agencies Collections Agency Consumer Credit 40

Troutman Sanders

MARCH 1, 2021

The court determined that decisions to enact eviction moratoriums rest with the state and not the federal government. The bill will prohibit selling an individual’s debt to another party and reporting adverse information about the individual to consumer credit reporting agencies or credit bureaus.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

JANUARY 11, 2021

In its report, the Taskforce makes approximately 100 recommendations to the CFPB, Congress, and state and federal regulators to strengthen consumer protection. On January 4, Virginia Attorney General Mark Herring warned consumers against government imposter scams. For more information, click here. – 12:00 noon PST.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52