Collection Agencies Financial services Loans Student Loans 
Troutman Sanders
JANUARY 9, 2024
On January 3, Fannie Mae announced that during the weekend of January 20, it will update its loan underwriting system, Desktop Underwriter, to support changes to FHA and VA loan limits. CICA Collection Agency, a First Circuit case in which the CFPB has filed an amicus brief. For more information, click here.
Troutman Sanders
FEBRUARY 13, 2024
Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. Supreme Court unanimously ruled that government agencies can be sued for violations of the Fair Credit Reporting Act (FCRA). The USDA argued it was immune from such suits.
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Troutman Sanders
MARCH 14, 2023
While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here.
Troutman Sanders
MARCH 6, 2023
While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here.
Troutman Sanders
DECEMBER 12, 2023
billion in student loan debt relief for 80,300 borrowers. The guidance focuses on the risk management of BNPL loans, which are payable in four or fewer installments and carry no finance charges. For more information, click here. On December 6, the Biden-Harris administration announced the approval of an additional $4.8
Troutman Sanders
MAY 9, 2023
On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.
Troutman Sanders
JUNE 21, 2023
million to consumers harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. For more information, click here.
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