Troutman Sanders
FEBRUARY 25, 2022
In December 2021, a federal judge granted a motion for summary judgment in Mitchell v. The court held that because Specialized Loan used the correct designation, its actions were not unreasonable, and it was entitled to summary judgment. This “D” code indicates “no payment history available this month.”.
FFGN COLLECT NY
MARCH 15, 2022
Chase was one of 13 financial institution censured for robo-signing documents in support of debt collection suits and foreclosure. The banks’ actions harmed many consumers’ credit, and the banks had to pay billions to borrowers. Domesticating a Foreign Sister State Judgment in New York: It’s in the Affidavit.
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Troutman Sanders
AUGUST 1, 2023
On July 27, the Senate passed its version of the National Defense Authorization Act (NDAA) bill, which includes a provision that tightens oversight over financial institutions engaged in crypto trading and takes aim at crypto mixers and “anonymity-enhancing” crypto assets. For more information, click here.
Troutman Sanders
JUNE 14, 2023
The proposed guidanceadvises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal. For more information, click here.
Troutman Sanders
NOVEMBER 2, 2020
It requires federal regulators to exclude PPP loans from asset-size calculations for the purpose of determining capital ratios, deposit insurance premiums, and other asset thresholds at those financial institutions. For more information, click here. For more information, click here. For more information, click here.
Troutman Sanders
OCTOBER 16, 2023
On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions. NSF fees are distinct from overdraft fees, which financial institutions charge when they pay, rather than decline, a payment when the account lacks sufficient funds.
Troutman Sanders
MARCH 15, 2021
Under the program, Treasury will purchase preferred stock or subordinated debt from qualifying minority depository institutions and community development financial institutions, with the corresponding dividend or interest rate based on the institution meeting lending targets. For more information, click here.
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