Collections Credit Unions Lender Trade 
Collection Industry News
JUNE 5, 2022
The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups.
Troutman Sanders
SEPTEMBER 21, 2023
32 , respectively) disapproving the Consumer Financial Protection Bureau’s (CFPB or Bureau) implementation of the small business data collection and reporting final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule). House and Senate ( H.J. But the clock is ticking.
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Troutman Sanders
AUGUST 15, 2023
This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.
Collections Law
APRIL 5, 2022
Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have more important aspects of your business to run, but you may not know at what point it becomes worthwhile to bring in a collection professional. What does a collection attorney do?
Troutman Sanders
NOVEMBER 15, 2022
As we previously posted , on January 10, the Federal Trade Commission’s (FTC) final rule amending the Safeguards Rule under the Gramm-Leach-Bliley Act became effective. The deadline for complying with certain provisions of the Standards for Safeguarding Customer Information (Safeguards Rule) has been extended to June 9, 2023.
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. If you’re not paying current debts on time, you might look like too much of a risk for many lenders.
Troutman Sanders
JANUARY 23, 2024
On January 18, the Federal Trade Commission (FTC) issued an order postponing the effective date of the Combatting Auto Retail Scams (CARS) Rule while a legal challenge against the rule is pending. For more information, click here. According to the FTC, the CARS Rule will save consumers more than $3.4 For more information, click here.
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