FFGN COLLECT NY

JANUARY 10, 2024

More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry. Buy now, pay later services act as a lender of sorts and are currently not licensed by the state. Medical Debt Medical debt was another topic addressed in the State of the State address.

Garnishment 52

Garnishment Collections Debt collector Student loans 52

Collection Industry News

MARCH 17, 2024

More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry. Buy now, pay later services act as a lender of sorts and are currently not licensed by the state. Medical Debt Medical debt was another topic addressed in the State of the State address.

Garnishment 40

Garnishment Collections Debt collector Student loans 40

True Accord

APRIL 5, 2023

On the regulatory front, the Consumer Financial Protection Bureau (CFPB) hit the ground running for 2023 with new guidance on subscription fees, proposed rulemaking on non-bank company terms and conditions, and issued an annual report sizing up the three credit reporting companies. A ruling is expected sometime in Q2 2023.

Student loans 95

Student loans Student Loans Credit Card Debt Loans 95

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.

Lender 40

Lender Foreclosure Collections Debt collector 40

Collection Industry News

MARCH 15, 2021

The DFPI is aggressively exercising its new authority to regulate a large group of newly covered financial services, including debt collectors, credit reporting and credit repair agencies, debt relief agencies and others. Consumers can reach the DFPI at (866) 275-2677 or Ask.DFPI@dfpi.ca.gov.

Foreclosure 40

Foreclosure Student loans Student Loans Debt collector 40

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.

Debt collector 40

Debt collector Education Credit Unions Credit Unions 40

Troutman Sanders

JUNE 14, 2023

On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. In at least thousands of cases, the debt collector continued to attempt to collect on a debt that was not substantiated after a consumer disputed the validity of the debt.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

AUGUST 1, 2023

On July 27, the Financial Innovation and Technology for the 21st Century Act passed the House Committee on Agriculture. The bill previously passed the House Committee on Financial Services on July 26. Per the report, examiners found multiple instances of unfair or abusive acts or practices by servicers.

Financial services 52

Financial services Financial Institution Debt collector Fair Debt Collection 52

Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

JUNE 21, 2022

On June 15, the Consumer Financial Protection Bureau (CFPB) issued an update about its December 2021 market monitoring inquiry into Buy Now, Pay Later (BNPL) — a short-term, no-interest consumer credit product that has become nearly ubiquitous at the point of purchase online and, increasingly, in brick-and-mortar stores.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

Better Credit Blog

APRIL 5, 2022

A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.

Collections 98

Collections Collection Agencies Collections Agency Original Creditor 98

True Accord

JULY 5, 2022

While the markets are pricing these into forecasts , consumers will feel them more acutely in a number of ways. And opening a new credit card line may prove difficult – many lenders are or will be changing their strategies to stave off the looming threat of…. Missed payments on certain loans are already on the rise.

Lender 52

Lender Debt collector Loans Personal loans 52

Troutman Sanders

APRIL 15, 2022

The Consumer Financial Protection Bureau (CFPB) will investigate credit reporting companies and debt collectors that violate patients’ and families’ rights and hold violators accountable. The CFPB has been vocal about medical debt and consumers’ credit reports recently too.

Consumer Credit 52

Consumer Credit Creditworthiness Debt collector Education 52

Troutman Sanders

MAY 2, 2023

PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels. However, due to partisanship in the Senate, Senator Lummis believes her bill is unlikely to pass before the House Financial Service Committee’s bill is introduced.

Financial services 52

Financial services Trade Consumer Credit Government 52

Troutman Sanders

AUGUST 31, 2020

Federal Activities: During the week of August 24, 2020, the Consumer Financial Protection Bureau (CFPB) updated pages relating to student loans and its guidance on protecting credit during COVID-19. ” Additionally, the CFPB recently released additional resources for Spanish speakers, which can be viewed here.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52