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Better Credit Blog
MAY 11, 2022
million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. Refinancing your student loans could help lower your monthly payments and reduce your overall repayment amount. Additionally, look at our best student loan companies to apply completely online.
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. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions.
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Collection Industry News
JULY 6, 2021
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB has the authority to supervise large banks, thrifts, credit unions with assets over $10 billion, and certain nonbanks for compliance with Federal consumer financial law. Examiners found foreclosure issues. important; padding-bottom:1em!important;
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.
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.
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.
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.
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