Collection Industry News

JUNE 5, 2022

Source: site. The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. “These business models of nonbank providers often rely on avoiding accountability and prudent regulation,” Alexander Monterrubio, senior director of advocacy and counsel for consumer protection at the Credit Union Natio

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Collection Industry News

JUNE 5, 2022

Source: site. On May 26, 2022, the North Carolina Attorney General (NC AG) announced that it obtained a default judgment against a California-based debt settlement business, and its proprietor. The lawsuit, filed on June 25, 2021 in the North Carolina Superior Court for Wake County, alleged that the entity violated North Carolina’s Debt Adjusting Act, N.C.

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Collection Industry News

JUNE 5, 2022

Source: site. Panthers owner David Tepper, the league’s wealthiest owner, has filed Chapter 11 bankruptcy through his company, GT Real Estate Holdings LLC, according to a report from Joseph Person and Daniel Kaplan of The Athletic. Per the report, Tepper’s real estate company went bankrupt following the issues related to the team’s new facility slated for Rock Hill, S.C.

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Collection Industry News

JUNE 5, 2022

Source: site. The Biden administration announced on Wednesday that the Education Department has approved billions of dollars in new student loan forgiveness for borrowers defrauded by Corinthian Colleges. The Education Department characterized the action as “the largest single loan discharge the Department has made in history.” The relief will be also be provided automatically for eligible borrowers.

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Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

Collection Industry News

JUNE 5, 2022

Source: site. Two U.S. senators have proposed major changes to student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student Loans. U.S. Senators Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR) introduced new legislation — the Simplifying and Strengthening PSLF Act — to “streamline and improve” public service loan forgiveness.

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