Troutman Sanders

DECEMBER 21, 2021

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. Ron Wyden asked the CFPB to prevent credit agencies from selling Americans’ private, personal data unrelated to their credit or finances via data brokers.

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Collection Industry News

MAY 18, 2021

Despite objections from CUNA and NAFCU, the House of Representatives passed the Comprehensive Debt Collection Improvement Act on Thursday. 2547 was sponsored by House Financial Services Committee Chairwoman Rep. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.

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Collection Industry News

MARCH 28, 2022

The Department has also begun licensing debt collectors. The first change under the CCFPL was a new name for the Department which was formerly the Department of Business Oversight. OFTI participated in more than a dozen public events to publicize OFTI’s activities and extend the invitation to meet.

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Collection Industry News

MARCH 15, 2021

SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.

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Troutman Sanders

JUNE 14, 2023

On June 8, the board of governors for the Federal Reserve (the Fed), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and the OCC requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

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Troutman Sanders

JUNE 21, 2022

On June 16, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2021 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,338 U.S. financial institutions. Covered institutions include banks, savings associations, credit unions, and mortgage companies.

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