Troutman Sanders

OCTOBER 30, 2023

District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing injunction against the CFPB’s enforcement of its final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule) to cover all small business lenders nationwide.

Financial services 52

Financial services Financial Institution Trade Banks 52

Troutman Sanders

OCTOBER 4, 2021

Federal Activities: On September 29, the Consumer Financial Protection Bureau (CFPB) released its fifth biennial report to Congress on the consumer credit card market, finding that the market’s growth over the last few years reversed course in 2020. On September 28, Federal Trade Commission (FTC) Chair Lina M.

Financial services 52

Financial services Financial Institution Foreclosure Student loans 52

Troutman Sanders

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.

Financial services 52

Financial services Student loans Student Loans Loans 52

Better Credit Blog

JANUARY 20, 2022

Negotiate with your creditors to reach settlements and reduce your total debt. Help you come up with a 24- to 48-month debt repayment plan tailored to your budget. In keeping with Federal Trade Commission rules , Freedom Debt Relief doesn’t charge upfront fees. Focused on protecting and helping consumers.

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Fico Collections

JANUARY 26, 2022

FICO® Score At 716, Indicating Improvement In Consumer Credit Behaviors Despite Pandemic. Ethan Dornhelm wrote: The FICO® Score is the lingua franca, or common language, for the credit scoring industry. It serves as a broad-based, independent standard measure of credit risk. Fewer consumers are actively seeking credit.

Credit Bureau 52

Credit Bureau Lender Credit Card Debt Consumer Credit 52

Troutman Sanders

JULY 11, 2023

On July 6, the Federal Trade Commission (FTC) announced that, in cooperation with the state of Florida, it will send refunds to consumers nationwide allegedly defrauded by a telemarketing financial services company, and related companies, into paying for credit card interest rate reduction and debt elimination programs.

Financial services 40

Financial services Student loans Student Loans Credit Card Debt 40

Collection Industry News

OCTOBER 17, 2023

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Federally chartered credit unions have an 18% limit. For example, Sen.

Credit Unions 40

Credit Unions Credit Unions Accrued Interest Credit Card Debt 40