Credit Corp

AUGUST 23, 2021

Adverse Action Notices and Credit Score Reason Codes. Under the Fair Credit Reporting Act , anyone who uses information from your credit report to deny you credit or services has to tell you in writing. You might also talk to your bank or credit union about available loans that would be looked upon more favorably.

Lender 104

Lender Loans Personal loans Trade 104

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Troutman Sanders

OCTOBER 9, 2023

On October 5, the Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Third-party Debt Collectors 52

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.

Financial services 52

Financial services Financial Institution Foreclosure Banks 52

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.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

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.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52