FFGN COLLECT NY

MARCH 15, 2022

In 2015, the Federal Trade Commission came down on Chase for robo-signing affidavits. The order expired a few years ago and now, probably due to the overwhelming number of lawsuits being filed against consumers for delinquent accounts, six senators have renewed the inquiry into Chase’s collection activities.

Collections 98

Collections Judgment Foreclosure Financial Institution 98

Burr Forman

JULY 9, 2021

In affirming the lower court’s findings, the Eleventh Circuit held that a defendant does not “recklessly” violate the FCRA unless its interpretation of the FCRA’s requirements was “objectively unreasonable” under the statute itself or under other applicable guidance outlined by the courts or agencies such as the Federal Trade Commission (“FTC”).

Loans 52

Loans Judgment Lender Trade 52

Troutman Sanders

JANUARY 5, 2022

State Activities: On December 31, 2021, New York Governor Kathleen Hochul signed a bill into law that will lower the interest rate charged on unpaid money judgments to 2%. The law, effective April 30, applies to new judgment and retroactively to any judgment not fully satisfied when the law goes into effect.

Financial services 52

Financial services Judgment Trade Consumer Credit 52

Troutman Sanders

AUGUST 1, 2023

For example, the bill distinguishes a “digital asset” from a “digital commodity,” empowering the Securities and Exchange Commission (SEC) to regulate the former and the Commodity Futures Trading Commission (CFTC) to regulate the latter. On July 26, the CFPB published a blog focused on consumer credit scores.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Troutman Sanders

NOVEMBER 2, 2020

On October 25, the administrator of Colorado’s Uniform Consumer Credit Code issued an order extending the requirements of sections (4) and (5) of SB-211 and restricting the use of extraordinary collection activities to collect debt or satisfy judgments in Colorado until February 1, 2021. For more information, click here.

Financial services 52

Financial services Financial Institution Loans Credit Unions 52

Troutman Sanders

MARCH 11, 2024

On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry. The SEC alleged that Shapeshift violated Section 15(a) of the Securities Exchange Act of 1934 by facilitating trades in crypto assets without registration.

Financial services 52

Financial services Garnishment Lender Banks 52