True Accord

APRIL 5, 2023

At the beginning of March, the federal government ended pandemic-era payments for low-income families on the Supplemental Nutrition Assistance Program (SNAP), causing nearly 30 million Americans to lose increased food stamp benefits. consumer credit card debt has increased to nearly $1 trillion.

Student loans 95

Student loans Student Loans Credit Card Debt Loans 95

Fico Collections

APRIL 28, 2023

Credit Risk and FICO Score Trends? economy, credit scores, and credit risk trends were headed. government and financial institutions to implement significant guard rails and safety net programs for consumers such as the government stimulus, extended unemployment benefits, and payment accommodations.

Student loans 52

Student loans Student Loans Consumer Credit Lender 52

Public Citizen

OCTOBER 24, 2020

Speaker Selection:             Interested scholars and practitioners must submit their interest in the Symposium, proposed topic idea, and current affiliations with law firms, universities, or non-government advocacy organizations to editorinchief@gmail.com by January 8, 2021. 

Third-party Debt Collectors 69

Third-party Debt Collectors Student loans Student Loans Law Firms 69

Troutman Sanders

JANUARY 19, 2022

ruling that the plaintiff failed to specifically allege facts to support an inference that Navient Corporation and Navient Solutions LLC violated the Fair Credit Reporting Act (FCRA) and the California Consumer Credit Reporting Agencies Act (CCRAA). Navient Corp.

Student loans 52

Student loans Student Loans Loans Bankruptcy 52

Troutman Sanders

OCTOBER 16, 2023

State Activities: On October 12, California’s Department of Financial Protection and Innovation (DFPI), announced, in its October bulletin, that final regulations to implement the Student Loan Servicing Act and the Student Loans Borrower Rights Law have been approved and will become effective January 1, 2024.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Collection Industry News

NOVEMBER 13, 2023

Credit card delinquency rates also rose across the board, according to the New York Fed, but especially among millennials, or borrowers between the ages of 30 and 39, who are burdened by high levels of student loan debt. But that comes at the expense of other long-term financial goals, he added.

Credit Card Debt 40

Credit Card Debt Student loans Student Loans Consumer Credit 40

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. The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.

Financial services 52

Financial services Credit Unions Credit Unions Third-party Debt Collectors 52

Troutman Sanders

MAY 9, 2023

On May 4, the White House published technology standard document “United States Government National Standards Strategy for Critical and Emerging Technology.” For more information, click here. competitiveness and national security ….” For more information, click here. On May 1, Oklahoma Governor Kevin Stitt approved HB1443.

Financial services 52

Financial services Student loans Student Loans Loans 52

True Accord

MARCH 31, 2022

The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. Add these all together and the financial outlook for consumers, especially those in debt, is scary. But there are silver linings, as well. And lenders are happy to lend.

Lender 58

Lender Personal loans Foreclosure Loans 58

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.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Collection Industry News

MARCH 15, 2021

It has taken actions to collect data on a number of new industries, including debt relief and earned wage access providers, and has filed a cease-and-desist order against a student loan debt relief company charging borrowers exorbitant fees for the false promise of getting their student debt wiped.

Foreclosure 40

Foreclosure Student loans Student Loans Debt collector 40

Troutman Sanders

APRIL 4, 2022

The bill requires stablecoins to be backed by government securities with maturities less than 12 months or domestic dollars, while requiring stablecoin issuers to publicly release audited reports of reserves executed by third-party auditors. For more information, click here.

Financial services 52

Financial services Loans Banks Student loans 52

Troutman Sanders

OCTOBER 30, 2023

This bill would instruct the Consumer Financial Protection Bureau (CFPB) and the Government Accountability Office to conduct a study on BNPL and EWA services to help determine the degree to which consumers are utilizing both services for retail purchases. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Trade Banks 52

Collection Industry News

MAY 18, 2021

In a letter sent to the leaders of the House and Senate , CUNA President/CEO Jim Nussle stated his objections to section 403 of the bill, which would amend the Fair Credit Reporting Act to prohibit credit scoring models from treating certain medical debt information on consumers’ credit report as a negative factor.

Lender 40

Lender Foreclosure Collections Debt collector 40

Credit Corp

MAY 30, 2023

The Consumer Credit Protection Act caps these types of garnishments. The federal, state, or local government charges the accused party. Exceptions apply for things like child support, spousal support, student loans, and some property liens. These payments are sent to the judgment creditor until your debt is paid.

Judgment 98

Judgment Garnishment Creditors Law Firms 98

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.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

JUNE 14, 2023

The report highlights enforcement actions related to the acts and their implementing regulations, including in the areas of automobile purchases and financing, payday lending, credit repair and debt relief, other credit, and electronic fund transfers. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Student loans Student Loans 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

JANUARY 20, 2022

Nelson, aged 27, took out a private student loan of $10,000 to cover unforeseen college costs after using up his federal loan. You can use several methods: Consumer credit counseling. Mary and Stuart ended up with $14,000 in department store debt after their wedding costs escalated beyond their budget. “A-”

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Collection Industry News

APRIL 12, 2021

One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion (NYSE: TRU) to a public registry under the Consumer Financial Protection Bureau. Paying off a mortgage can reduce a credit score.

Creditworthiness 74

Creditworthiness Student loans Student Loans Lender 74

Troutman Sanders

MARCH 15, 2021

The American Rescue Plan provides $1,400 direct payments to individuals making up to $75,000 annually, $350 billion in aid to state and local governments, and $14 billion for vaccine distribution. House of Representatives that seeks to amend the Fair Credit Reporting Act to exclude COVID-19-related evictions from consumers’ credit reports.

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Collection Industry News

JANUARY 25, 2021

Uejio has been with the CFPB since 2011 and worked with Chopra, who served as the bureau’s student loan ombudsman during the Obama administration. That experience will enable Uejio to lay solid groundwork for Chopra, said Richard Cordray, the bureau’s first director. The two share many of the same priorities, Cordray said.

Student loans 40

Student loans Student Loans Debt collector Trade 40

Troutman Sanders

OCTOBER 17, 2022

On October 13, the CFPB, the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC) announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $28,500 to $31,000. For more information, click here. For more information, click here.

Financial services 52

Financial services Banks Education Student loans 52

Troutman Sanders

JULY 11, 2023

The CFPB further alleged that the defendants made guarantees about lowering consumers’ credit card interest rates. The defendants also pitched a credit card debt elimination service, and alleged that they could access funds from the government or from a lawsuit against the credit card industry to pay off consumers’ credit card debt.

Financial services 40

Financial services Student loans Student Loans Credit Card Debt 40