Credit Unions Financial Institution Foreclosure Loans 
Credit Corp
DECEMBER 14, 2020
And her bank wouldn’t give her and her husband Larry a loan to buy a replacement home. Brenda’s still tending her garden, though, thanks to a second-chance loan from the New Hampshire Community Loan Fund-a Community Development Financial Institution (CDFI). Flexible loan amounts. Flexible loan amounts.
Jimerson Firm
FEBRUARY 10, 2022
The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency. As a result, a loan that is charged off is written off and deemed a loss of principal and interest.
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Troutman Sanders
FEBRUARY 21, 2024
On February 16, the CFPB reported on the first set of results from the newly updated Terms of Credit Card Plans survey. The report alleges that large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk. For more information, click here.
Troutman Sanders
OCTOBER 16, 2023
On October 11, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion concerning consumers’ requests for information regarding their accounts with large banks and credit unions. For more information, click here. For more information, click here. For more information, click here.
Troutman Sanders
OCTOBER 26, 2020
On October 23, the Federal Reserve and Financial Crimes Enforcement Network (FinCEN) invited comment on a proposed rule change, requiring financial institutions to keep more records on hand related to smaller-value international fund transfers. For more information, click here. For more information, click here.
Troutman Sanders
MARCH 22, 2021
Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Current provisions in federal law will allow federal borrowers to seek cancellation if their institution engaged in certain misconduct.
Troutman Sanders
OCTOBER 9, 2023
The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled. For more information, click here. For more information, click here. For more information, click here.
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