Mon.Mar 15, 2021

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CFPB Reports On Impact Of Pandemic On Low Income And Minority Households

Collection Industry News

The report states that “11 million renter and homeowner households were significantly overdue on their regular housing payments as of December 2020, placing them at heightened risk of losing their homes to foreclosure or eviction over the coming months.”

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

On March 11, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.” The new executive order extends protections originally put in place on April 14, 2020 by Executive Order 2020-25.