Troutman Sanders

MARCH 29, 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. On March 24, the Consumer Financial Protection Bureau (CFPB) provided Congress its Consumer Response Annual Report for 2020.

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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 rules cover loans on principal residences, generally exclude small servicers, and will take effect on August 31.

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Better Credit Blog

APRIL 1, 2022

A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. They recently acquired Alltran Financial Services in 2020.

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Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. In Berry v.

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Troutman Sanders

MARCH 4, 2024

On February 29, the Consumer Financial Protection Bureau (CFPB) issued a circular to law enforcement agencies and regulators explaining how companies operating comparison-shopping tools can break the law when they steer consumers to certain products or lenders because of kickbacks. For information, click here. s Municipal Regulations.

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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. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated.

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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.

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Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages. As part of S.

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Troutman Sanders

JANUARY 25, 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. For more information, click here. For more information, click here. Initially, the moratorium was set to expire on February 1.

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Troutman Sanders

JULY 26, 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 guidance resulted from concerns that debt collectors would seize the funds. For more information, click here.

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Troutman Sanders

AUGUST 31, 2020

Federal Activities: During the week of August 24, 2020, the Consumer Financial Protection Bureau (CFPB) updated pages relating to student loans and its guidance on protecting credit during COVID-19. Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions.

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Troutman Sanders

NOVEMBER 7, 2023

On November 1, the OCC issued a bulletin to inform banks about policy guidance that applies to commercial loans to early, expansion, and late-stage companies. Before making any loan, bank management should identify the purpose of the loan and the source of repayment. For more information, click here. On November 1, the U.S.

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