Fraser

SEPTEMBER 28, 2020

A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. Even when a claim is scheduled, and assuming there are no reasons not to (see below), a creditor may choose to file a claim to guard against a debtor modifying or removing its scheduled claim.

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Consumer Financial Services Law

MAY 10, 2017

A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.

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Debt collector Acquisition Foreclosure Financial Institution 40

Better Credit Blog

APRIL 11, 2022

If you see an old phone number, chances are it is still on file with the financial institution that issued the loan or credit card. Your creditors will report on your credit accounts regularly. Account information for each credit item will include the following: Name and address of the creditor. Foreclosure.

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Creditors Loans Credit Bureau Lender 15

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. You may access this interactive tool at [link]. According to the FOMC, inflation continues to run below 2%. For more information, click here.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

Better Credit Blog

JANUARY 29, 2021

Citibank is a major financial institution that offers credit cards in partnership with numerous retailers, including: Best Buy. Hard credit pulls let creditors see your credit reports , giving them an idea of how responsibly you use credit. Foreclosure. NTB/CBNA On My Credit Report. Brooks Brothers. The Home Depot.

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Repossession Loans Foreclosure Financial Institution 52

Troutman Sanders

OCTOBER 16, 2023

NSF fees are distinct from overdraft fees, which financial institutions charge when they pay, rather than decline, a payment when the account lacks sufficient funds. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions. On October 10, D.C.

Financial services 52

Financial services Student Loans Student loans Credit Unions 52

Troutman Sanders

MAY 9, 2023

The first of its kind, the strategy examines the phenomenon of financial institutions de-risking and its causes, and it identifies those greatest impacted. Department of the Treasury issued the 2023 De-Risking Strategy, as mandated by Congress in the Anti-Money Laundering Act of 2020. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

FDCPA Defense

JANUARY 22, 2017

Attorneys who collect for national banks, debt buyers or other financial institutions have been regular targets in FDCPA class actions. 2016) (granting summary judgment for plaintiff in FDCPA class action where defendant’s letter failed to specifically identify the name of the current creditor); Avila v. 3d 317 (7th Cir.

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Collections Judgment Creditors Law Firms 40

Troutman Sanders

FEBRUARY 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. You may access this interactive tool at [link]. Currently, the act only applies to persons who service student loans.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. Colorado – On June 29, 2020, the Colorado legislature enacted Senate Bill 20-211.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

JULY 7, 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. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

SEPTEMBER 7, 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. You may access this interactive tool at [link]. State Activities. Privacy and Cybersecurity Activities.

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Financial services Student Loans Student loans Foreclosure 52

Collection Industry News

JULY 6, 2021

The rule will be intended to “facilitate enforcement of fair lending laws as well as enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses.” The Bureau expects to issue this NPRM by September 2021.

Foreclosure 40

Foreclosure Financial Institution Consumer Credit Creditors 40

Troutman Sanders

MAY 2, 2023

On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Trade Government Consumer Credit 52

Troutman Sanders

MAY 17, 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. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Troutman Sanders

JUNE 15, 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. You may access this interactive tool at [link]. For more information, click here.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

NOVEMBER 7, 2023

The company expects to have sufficient funds to fully repay unsecured creditors. The bill would ban all medical debt from appearing on credit reports and prohibit creditors from considering medical debt in their decisions on whether to extend them credit. Bittrex had previously paid more than $29 million in fines for alleged U.S.

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Financial services Debt collector Loans Foreclosure 52