Troutman Sanders

APRIL 19, 2021

Among other provisions, the bill (1) prevents credit services organizations from discussing a consumer with a credit reporting agency, debt buyer, or debt collector; and (2) prevents credit services organizations from impersonating a consumer when communicating with a credit reporting agency, debt buyer, or debt collector.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

AUGUST 2, 2021

On July 29, Virginia Attorney General Mark Herring announced that he joined a multistate amicus brief , advocating for the rights of federal student loan borrowers. On July 26, The New York Times reported that the pandemic significantly increased the use of quick response (QR) codes at full-service U.S.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Troutman Sanders

SEPTEMBER 20, 2021

On January 31, 2022, the pause on interest and payments for federally held student loans will end. On September 8, Washington State Attorney General Bob Fergus announced a settlement with a debt collector that allegedly sent misleading “settlement offer” letters to resolve debts without disclosing that the debt was time-barred.

Financial services 52

Financial services Foreclosure Debt collector Student loans 52

Troutman Sanders

MARCH 22, 2021

Department of Education announced that about 72,000 student loan borrowers, who were defrauded by their schools, will receive student loan forgiveness that could total $1 billion. On March 10, the Oklahoma Senate passed a health care debt collection bill. For more information, click here. On March 18, the U.S.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

Troutman Sanders

SEPTEMBER 27, 2021

On September 22, the Internal Revenue Service announced that it awarded new contracts to three private sector collection agencies to collect overdue tax debts. Beginning September 23, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc., Coast Professional, Inc., and ConServe.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

FFGN COLLECT NY

JANUARY 10, 2024

More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry. Buy now, pay later services act as a lender of sorts and are currently not licensed by the state. Medical Debt Medical debt was another topic addressed in the State of the State address.

Garnishment 52

Garnishment Collections Debt collector Student loans 52

Troutman Sanders

AUGUST 10, 2020

Federal Activities: On August 8, 2020, President Donald Trump signed a number of executive orders related to the COVID-19 pandemic, including one that will defer payments on all student loans held by the Department of Education and waive all interest until December 31, 2020. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

APRIL 4, 2022

On March 30, the Consumer Financial Protection Bureau (CFPB) sanctioned Edfinancial for deceiving student loan borrowers about their eligibility for Public Service Loan Forgiveness, and the steps they could have taken to obtain loan cancellation. For more information, click here.

Financial services 52

Financial services Loans Banks Student loans 52

Troutman Sanders

JULY 7, 2021

Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debt collectors. In addition, cybercriminals are “also turning to trusted services like Dropbox, Google Drive, SendGrid, and Constant Contact” to distribute malware. District Judge Hawyood S.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

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. ” Additionally, the CFPB recently released additional resources for Spanish speakers, which can be viewed here.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Troutman Sanders

JUNE 28, 2021

Senators Elizabeth Warren, Tina Smith, Sherrod Brown, and Edward Markey wrote a letter to President Joe Biden, signed by 60 other lawmakers, requesting that that he extend the pause of federal student loan payments for at least six months or whenever employment returns to pre-pandemic levels. For more information, click here.

Financial services 52

Financial services Financial Institution Collection Agencies Collections Agency 52

True Accord

APRIL 5, 2023

Directly impacting creditors and debt collectors, a January ruling from the District Court of Puerto Rico found that sending debt collection communications prior to any knowledge of a debtor’s bankruptcy filing is not a violation of the Fair Debt Collection Practices Act (FDCPA). A ruling is expected sometime in Q2 2023.

Student loans 94

Student loans Student Loans Credit Card Debt Loans 94

Burr Forman

MAY 20, 2021

2547 (the “Comprehensive Debt Collection Improvement Act” or “CDCIA”). Originally introduced by House Financial Services Chairwoman Maxine Waters, the CDCIA’s primary purpose is to provide additional financial protections for consumers and place restrictions on debt collection activities by amending several consumer finance statutes.

Collections 52

Collections Debt collector Student loans Student Loans 52

Better Credit Blog

NOVEMBER 23, 2020

Using the strategies outlined below, you can say goodbye to debt collectors and get your score back on track. or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma. collects on a wide range of debts from several industries, including: Education. Financial services. Bank cards.

Debt collector 52

Debt collector Collection Agencies Collections Agency Collections 52

Consumer Financial Services Law

JANUARY 3, 2017

Here are the highlights: Debt collection, mortgage and credit reporting continue to be the leaders in complaint volume; Debt collections complaints comprise 27% of the total cumulative complaints received to date by the CFPB; Student loan complaints showed the greatest increase over the same period for 2015 with a 120% increase.

Third-party Debt Collectors 40

Third-party Debt Collectors Student loans Student Loans Collections 40

Better Credit Blog

APRIL 1, 2022

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. Pushing hard for debt collection after your request to validate the debt.

Collection Agencies 77

Collection Agencies Collections Agency Garnishment Fair Debt Collection 77

Collection Industry News

MARCH 15, 2021

The DFPI is aggressively exercising its new authority to regulate a large group of newly covered financial services, including debt collectors, credit reporting and credit repair agencies, debt relief agencies and others. Consumers can reach the DFPI at (866) 275-2677 or Ask.DFPI@dfpi.ca.gov.

Foreclosure 40

Foreclosure Student loans Student Loans Debt collector 40

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.

Debt collector 40

Debt collector Education Student loans Student Loans 40

True Accord

JULY 5, 2022

For those tasked with lending or recouping consumer loans, there are more regulatory considerations to keep in mind than before – debt collectors are under more scrutiny while lenders have similarly felt the regulatory squeeze with a number of new rulings in the past few months.

Lender 52

Lender Debt collector Loans Personal loans 52

Consumer Financial Services Law

JANUARY 25, 2017

Here are our key takeaways: · Past due medical bills, credit cards and student loans were among the most frequently cited debts consumers identified as being referred to collection. This, coupled, with other comments recently by the CFPB have identified the collection of medical debt as a source of concern for the Bureau.

Debt collector 40

Debt collector Collections Creditors Student loans 40