Debt Buying Government Loans 
Troutman Sanders
OCTOBER 11, 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 department estimates the waiver will make roughly 22,000 borrowers immediately eligible to have their loans erased automatically.
Collection Industry News
MARCH 30, 2025
The growth in the historic period can be attributed to rising consumer debt levels, economic downturns, growth in unsecured loans, expanding credit access, and elevating regulatory compliance requirements. The debt collection agencies market size is expected to see steady growth in the next few years. It will grow from $29.35
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Collection Industry News
DECEMBER 19, 2023
Enforcement Action Under the Consumer Financial Protection Act, the CFPB has the authority to take action against entities violating consumer financial protection laws, including the Fair Credit Reporting Act and Fair Debt Collection Practices Act. In September, the agency kicked off a rulemaking to remove medical debt from credit reports.
Troutman Sanders
JUNE 21, 2023
million to consumers harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief.
Collection Industry News
OCTOBER 6, 2020
It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and bulked-up unemployment benefits to Americans, while easing pressures on them by halting foreclosures, evictions and student loan payments. Debt-buying executives couldn’t help marveling at their good fortune.
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