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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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. On March 17, Virginia Attorney General Mark Herring announced a new law preventing garnishment or seizure of economic support payments.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

The legislation would benefit banks and credit unions with assets under $15 billion. On Friday, October 23, Ohio Senate President, Larry Obhof, and Governor Mike DeWine announced the creation of the “Home Relief” program to assist Ohioans facing evictions, foreclosures, and water service shut-offs during the current COVID-19 pandemic.

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What Are “Actual Damages” Under the FCCPA and the FDCPA?

Jimerson Firm

The plaintiffs alleged that the defendant sent statements misstating the balance of the loan, falsely represented the amount of the debt in connection with the collection activity, falsely represented that the plaintiffs owed foreclosure fees on the debt, and sent a number of letters alleging overdue payments.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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. Covered institutions include banks, savings associations, credit unions, and mortgage companies. For more information, click here.