Consumer Credit Credit Unions Creditors Loans 
FFGN COLLECT NY
JUNE 30, 2021
Today, you have six years to collect monies owed from consumer credit transactions. However, a bill approved by the New York Senate seeks to shorten the time to collect consumer credit transactions to three years. Personal bank loans. Credit union loan. Credit cards. Home equity loans.
FFGN COLLECT NY
JULY 20, 2021
After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) 153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. We have the experience that pays.
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Credit Corp
JUNE 8, 2023
When you borrow money, whether through a revolving account, like credit cards , or an installment account, like an auto loan or student loan , the information is gathered by the credit bureaus. The data the bureaus keep in your credit files is the date used to calculate your credit scores.
Collection Industry News
JANUARY 25, 2021
The HPML provisions in Regulation Z require that a creditor establish an escrow account for certain first lien HPMLs. For applications received before April 1 of the current calendar year, this condition is met if the insured creditor’s assets do not exceed the threshold on December 31 st of either of the two preceding calendar years.
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.
Troutman Sanders
NOVEMBER 2, 2020
In particular, the minimum loan size for three Main Street facilities available to for-profit and nonprofit borrowers was reduced from $250,000 to $100,000, and the fees were adjusted to encourage the provision of these smaller loans. The legislation would benefit banks and credit unions with assets under $15 billion.
Nexa Collect
JULY 1, 2020
Individuals, like you or I, have a credit history which determines our eligibility for home and car loans, ability to rent an apartment, obtain insurance, find a job and even maintain long-term romantic relationships. This doesn’t mean they have a bad credit history, because some of them may pay all their bills on time.
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