Consumer Credit Financial services Garnishment Loans 
Troutman Sanders
MARCH 11, 2024
The blog post posited that closing costs significantly impact a borrower’s financial commitment and, potentially, monthly payments and identified a “noticeable increase” in closing costs, with median total loan expenses on home purchase loans increasing by 21.8% between 2021 and 2022. For more information, click here.
Troutman Sanders
NOVEMBER 13, 2023
On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.
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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.
Troutman Sanders
APRIL 18, 2022
Federal Activities: On April 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report titled, “ Student Loan Borrowers Potentially At-Risk when Payment Suspension Ends.” Pre-pandemic payment assistance on student loans. Pre-pandemic payment assistance on student loans.
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. In New York, retirement income from Social Security and other sources are exempt from garnishment.
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. In New York, retirement income from Social Security and other sources are exempt from garnishment.
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.
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