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. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims.

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Financial services Garnishment Student loans Student Loans 52

Troutman Sanders

NOVEMBER 2, 2020

In particular, the minimum loan size for three Main Street facilities available to for-profit and nonprofit borrowers was reduced from $250,000 to $100,000, and the fees were adjusted to encourage the provision of these smaller loans. The legislation would benefit banks and credit unions with assets under $15 billion.

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Financial services Financial Institution Loans Credit Unions 52

Troutman Sanders

OCTOBER 26, 2020

The task force also adopted an updated report on trade-based money laundering and recognized progress by a number of jurisdictions. On October 23, lawmakers in the House of Representatives introduced a bill to exclude Paycheck Protection Program (PPP) loans from regulators’ calculations of the asset size of smaller banks.

Financial services 52

Financial services Financial Institution Foreclosure Banks 52

Troutman Sanders

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

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Financial services Student loans Student Loans Financial Institution 52