Collections Credit Unions Financial services Foreclosure 
Troutman Sanders
OCTOBER 16, 2023
On October 11, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion concerning consumers’ requests for information regarding their accounts with large banks and credit unions. For more information, click here. For more information, click here. For more information, click here. On October 10, D.C.
Jimerson Firm
FEBRUARY 10, 2022
The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency. Ocwen Loan Servicing, LLC, 8:14-CV-3214-T-35MAP, 2015 WL 12938920, at *1 (M.D. Charging Off” Uncollectable Debt.
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Troutman Sanders
OCTOBER 26, 2020
On October 23, the Federal Reserve and Financial Crimes Enforcement Network (FinCEN) invited comment on a proposed rule change, requiring financial institutions to keep more records on hand related to smaller-value international fund transfers. The legislation would benefit banks and credit unions with assets under $15 billion.
Troutman Sanders
MARCH 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. The bill also would require such payments to be encoded, and would extend other restrictions on collection of such funds.
Collection Industry News
MAY 18, 2021
Despite objections from CUNA and NAFCU, the House of Representatives passed the Comprehensive Debt Collection Improvement Act on Thursday. 2547 was sponsored by House Financial Services Committee Chairwoman Rep. Source: site. The bill, H.R. Maxine Waters (D-Calif.), passed the House with a 215-207 vote.
Collection Industry News
MARCH 15, 2021
SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.
Jimerson Firm
JANUARY 16, 2023
The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. Accredited Collection Agency Inc. , No. Collection Services, Inc. Businesses should be aware of each statute and how to defend against such claims. See, e.g., Lane v.
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