Troutman Sanders

MAY 9, 2023

On May 2, the White House published a blog post, titled “The DAME Tax: Making Cryptominers Pay for Cost They Impose on Others.” On May 2, the Federal Housing Administration published Mortgagee Letter 2023-09 to implement provisions of the Adjustable-Rate Mortgages (ARM): Transitioning from LIBOR to Alternative Indices final rule.

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Better Credit Blog

JULY 7, 2020

No one wants to answer a call from a debt collection agency. But if your number has made its way onto a debt collector’s calling list, ignoring the problem won’t make it go away. Even when you pay off a collection agency, it can hurt your credit score for years to come. Harris Collection. Harris Ltd.

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Troutman Sanders

JUNE 14, 2023

On June 8, the Federal Trade Commission (FTC) announced that it had conducted a new analysis, which shows that bogus bank fraud warnings were the most common form of text message scam reported to the agency, and that many of the most common text scams impersonate well-known businesses. For more information, click here.

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Better Credit Blog

OCTOBER 7, 2020

Debt collectors can be a nuisance, and their effects on your credit score are even worse than their constant calls. It might seem like paying off your debt is the best method for getting a collections agency like AMCOL off your report, but that could do more harm than good. is not a scam. AMCOL Systems, Inc.,

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PDC Flow

OCTOBER 6, 2020

Cyber experts report that in the United States alone scams like phishing and social engineering attacks against individuals range from 20,000 to 30,000 daily. . Now more than ever our customers are reading the news about privacy, cybercrime, scams, and other fraudulent schemes to be wary of.

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Better Credit Blog

JULY 7, 2020

Is Bonneville Collections bringing you down? The agency could also be contacting you by mistake, which can be exceptionally frustrating as debt collection agencies are notorious for their repeated phone calls. What Is Bonneville Collections? How Does Bonneville Collections Work? Commercial.

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Better Credit Blog

AUGUST 25, 2020

While ignoring Global Crossing won’t help matters, simply paying the collections agency what you owe isn’t the wisest course of action, either. Getting a collection account removed from your credit report could be as simple as asking. is a legit debt collection agency. Negotiate a pay-for-delete agreement.

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Collection Industry News

MAY 22, 2023

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. and SLA Consulting Services Inc. and SLA Consulting Services Inc.

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Better Credit Blog

SEPTEMBER 17, 2020

Is A1 Collections bringing down your credit score? Discovering a collections entry on your credit report can be stressful, hurting your credit and leading to unwanted phone calls and letters. If you’re ready to stop A1 Collections’ phone calls and get them off of your credit score completely, read on. What Is A1 Collections?

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Troutman Sanders

JUNE 21, 2023

In their complaints, some servicemembers reported incurring serious financial harm from scams and fraud when using these services, and they also suggested that digital payment app providers often fail to provide timely and substantive resolutions. Department of Education and falsely promising student loan debt relief.

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Better Credit Blog

AUGUST 25, 2020

When a collections account makes its way onto your report, it can do a surprising amount of damage to your credit score. While paying off the debts you owe to the agency might seem like a simple solution, it won’t help to boost your score like the strategies below. Outsourcing debt collections.

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Sawin & Shea

FEBRUARY 2, 2022

Credit card debt can be debilitating. When your bills are more than you can handle and you are struggling to get by, debt relief options can help. However, it’s important to understand that there are various forms of debt relief, and they are not all right for everyone. 5 Tips and Solutions for Managing Credit Card Debt.

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Better Credit Blog

JULY 7, 2020

Dealing with a debt collection agency usually isn’t a pleasant experience. When you owe a debt to a collections agency, it can hurt your credit score for years. Direct Recovery Services’ incessant methods might have you wondering whether or not it’s a legitimate operation or a scam.

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Better Credit Blog

JULY 13, 2020

Did you recently get a notification of a new collections account on your credit report or find a voicemail from MiraMed Revenue Group on your phone? When a collections agency like MiraMed contacts you, it’s usually about a missed bill. Miravie collection. Seek debt validation. Seek Debt Validation from MiraMed.

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Better Credit Blog

AUGUST 17, 2020

When a debt collector like Cavalry SPV ends up on your report, it can do severe damage to your credit score for years, even if you pay off your debts. The agency also uses aggressive tactics to collect on debts, which can add stress to an already nerve-wracking situation. Send a debt validation letter.

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Troutman Sanders

JUNE 9, 2023

The act requires the FTC to “conduct a study on facilitating and refining existing efforts with [state AGs] to prevent, publicize, and penalize frauds and scams.” The RFI welcomes comments from state AGs; law enforcement and regulatory agencies; public interest organizations; and several other interested parties.

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Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Department of Housing and Urban Development (HUD), the Federal Housing Finance Agency (FHFA), and the U.S. The amendment, led by U.S. Per the blog, the U.S. For more information, click here.

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Troutman Sanders

AUGUST 28, 2023

which provides consumers with tips to spot digital asset-related scams. According to the FTC, “[n]o legitimate business or government agency is going to demand you to pay with cryptocurrency … [t]hat’s always a scam.” Hsu, Federal Housing Finance Agency Director Sandra L. For more information, click here.

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Credit Corp

AUGUST 24, 2020

When you’re trying to conquer unpaid debts sent to collections, you’ll likely face some obstacles. Two of the most common are coming up with enough money to pay off the debt and negotiating a payment plan or settlement you can afford. Find out how to pay collections below. Find out how to pay collections below.

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Credits Inc

OCTOBER 7, 2019

If you are a freelancer who fears getting scammed, continue reading to learn how to spot a potential scammer and what to do when you fear it may be too late. Scammer Red Flag #2: They continue to put off payment. What to do about uncollected debt: hire a collection agency. to help you secure your hard earned money.

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Troutman Sanders

FEBRUARY 8, 2021

Uejio said he was directing CFPB’s Division of Research, Markets, and Regulations to “explore options for preserving the status quo with respect to [the qualified mortgage rule] and debt collection rules.” The debt collection rule is currently scheduled to go into effect on November 30, 2021. On February 2, the U.S.

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Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. However, the CFPB also found that student debt cancellation may substantially reduce the number of borrowers at risk when the payment suspension ends. On October 31, the U.S.

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Troutman Sanders

MARCH 29, 2021

On March 23, Representatives Steve Cohen, Suzanne Bonamici, and Alexandria Ocasio-Cortez introduced the Fair Debt Collection Improvement Act that would prohibit debt collectors from collecting or attempting to collect debt from consumers after a statute of limitation expires.

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Troutman Sanders

SEPTEMBER 7, 2021

State Activities: On September 3, New York Attorney General Letitia James announced that her office is assessing ways to overhaul the collection of unpaid student loans, especially those incurred by individuals attending State University of New York (SUNY) schools. For more information, click here. For more information, click here.

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Troutman Sanders

DECEMBER 19, 2023

On the other hand, Group 2 stablecoins will be subjected to a new highly conservative capital treatment. The bill will add a new article, Article 49-A, Medical Debt Reporting, to the state’s Public Health Law. The company is alleged to have illegally collected fees from customers and misrepresented its services to consumers.

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Troutman Sanders

MARCH 1, 2021

Federal Activities: On March 1, Federal Housing Finance Agency Director Mark Calabria announced that he authorized the disbursement of $1.09 The bill will prohibit selling an individual’s debt to another party and reporting adverse information about the individual to consumer credit reporting agencies or credit bureaus.

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Troutman Sanders

NOVEMBER 23, 2021

On November 19, the CFPB issued guidance to staff , reminding them to report suspicious communications and activity by former CFPB employees to agency officials. 2) what do they want me to do?; For more information, click here. For more information, click here. and (3) what evidence supports the message? On November 18, U.S.

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Troutman Sanders

DECEMBER 4, 2023

The Senate Banking Committee questioned Chopra on the CFPB’s oversight of financial institutions providing benefits under the Servicemembers Civil Relief Act (SCRA), medical debt collection, so-called “junk fees,” and the increasing popularity of buy now, pay later (BNPL) products. For more information, click here.

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Troutman Sanders

APRIL 11, 2022

On April 7, the Consumer Financial Protection Bureau (CFPB) announced that it is using its rulemaking authority to propose that consumer reporting agencies (CRAs) do not prevent human trafficking survivors from achieving financial independence. For more information, click here. On April 6, the U.S. For more information, click here.

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Troutman Sanders

APRIL 26, 2021

million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. The complaint asks the court to declare the transfer void and order the seizure and sale of the property to partially repay the debt-collector’s outstanding debt to the federal and state governments. On April 22, the U.S.

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Troutman Sanders

NOVEMBER 10, 2020

In the statement the Committee acknowledged the economic hardship caused by the COVID-19 pandemic: The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved.

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Troutman Sanders

OCTOBER 24, 2023

The report recommends the FDIC to (1) establish a plan with timeframes for assessing risks pertaining to crypto-related activities and (2) update and clarify the supervisory feedback process related to its review of supervised institutions’ crypto-related activities. For more information, click here. For more information, click here.

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Troutman Sanders

FEBRUARY 21, 2023

On February 15, the SEC issued a proposed rule that broadens the application of SEC’s current custody rule (Rule 206(4)-2 under the Advisers Act) and redesignates that rule as new Rule 223-1 under the Advisers Act. The share of consumers with a collection tradeline on their credit report decreased by 20% in the same timeframe.

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Troutman Sanders

OCTOBER 10, 2022

On October 3, the Consumer Bankers Association, American Bankers Association, Bank Policy Institute, and The Clearing House expressed their collective disagreement with a report by Sen. of the 5 billion transactions processed on the Zelle network in the past 5 years were sent without any report of fraud or scams.

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Collection Industry News

MARCH 2, 2021

Acting Director Uejio called the case “a prime example of how people of color are targeted in financial scams and the latent inequity that is too often found in the market for financial products and services.” Threatening to sue consumers for non-payment when in fact Libre has never filed a collection lawsuit.

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Troutman Sanders

JULY 20, 2020

On July 17, 2020, New York Attorney General Letitia James extended the suspension of debt collection for medical and student debt owed to the state of New York for 30 days, through August 15, 2020. Interest accrual and collection of fees on outstanding state medical and student debt are suspended until August 15 as well.

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Troutman Sanders

NOVEMBER 15, 2022

Director Chopra discussed potential resolutions on the hypothetical failure of three categories of systemically important financial institutions: (1) domestic systemically important financial institutions; (2) nonbank systemically important financial institutions; and (3) global systemically important banks. For more information, click here.

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