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Collection Industry News
JUNE 19, 2023
Today, the CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2022.
Troutman Sanders
JANUARY 6, 2023
Fair Credit Reporting Act: This is noteworthy, but cryptic, in that the CFPB simply states it “is considering whether to amend Regulation V.” We will monitor and report on any developments. The CFPB has not yet posted a blog or issued a press release about the agenda.
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Troutman Sanders
JANUARY 10, 2023
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. For more information, click here. On January 4, the U.S. billion in aggregate investor value.
Collection Industry News
FEBRUARY 15, 2021
While experiencing, among other difficulties, operational constraints, resource burdens, and service disruptions, servicers were expected to quickly implement CARES Act forbearances. The targeted information requests focused generally on the time period from May 2020 through September 2020. insufficient loss mitigation processes.
Troutman Sanders
NOVEMBER 2, 2020
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). In response, Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. State Activities. For more information, click here.
Collection Industry News
MAY 9, 2022
Although debt collection has been a longtime leading issue reported to the Consumer Financial Protection Bureau (CFPB), during the COVID-19 pandemic, another issue emerged as the nation’s number one consumer concern: credit reporting. Deceiving consumers through its digital dark patterns.
Troutman Sanders
SEPTEMBER 18, 2023
The FTC sent Notices of Penalty Offenses that warn recipients they could incur civil penalties of up to $50,120 per violation if they misuse personal data in ways that run counter to the original purpose for which this information was collected. On September 14, the CFPB released a report on Tuition Payment Plans in Higher Education.
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