Account Recovery
JULY 13, 2023
Amicus briefs were due this week in support of the group suing the Consumer Financial Protection Bureau over whether the funding structure that gives the CFPB its budget is constitutional, and a number of groups, including ACA International, former Acting Director Mick Mulvaney, 132 current Members of Congress, 21 former Members of Congress, and 27 […]
Jimerson Firm
JULY 13, 2023
On May 25, 2023, Florida Governor Ron DeSantis signed into law Senate Bill 346 (“SB 346”), which makes substantial changes to Florida construction law regarding prompt payment and retainage requirements on contracts between state and local governments and construction contractors on Florida construction projects for these governmental entities. These changes, which will be effective beginning on July 1, 2023, include changes to section 218.735 , Florida Statutes, for local governments, and sect
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Account Recovery
JULY 13, 2023
Were its budget to be under the purview of Congress, the Consumer Financial Protection Bureau would receive $635 million for the 2024 fiscal year, which begins October 1, according to the Financial Services and General Government bill from the House Appropriations Committee.
True Accord
JULY 13, 2023
With tumult in the banking industry in Q2 and inflation and economic stressors persisting, the financial outlook for American consumers remains uncertain. The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. Student loan holders hoping for financial relief were disappointed in a Supreme Court decision that rejected President Biden’s plan to cancel more than $400 billion in student loan debt for millions of borrowers.
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.
Account Recovery
JULY 13, 2023
Warminster, PA, July 13, 2023 – CORA Group (“CORA”) a subsidiary of Constellation Software Inc, is pleased to announce the acquisition of WebRecon LLC (“WebRecon”), a leading provider of litigation tracking and consumer risk management solutions for the credit and collection industry.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JULY 13, 2023
A District Court judge in New Jersey has denied a plaintiff’s motion to remand a Fair Debt Collection Practices Act case back to state court, ruling that the $7.
Troutman Sanders
JULY 13, 2023
On June 29, Connecticut Governor Ned Lamont signed SB 1033 , An Act Concerning Various Revisions to the Banking Statutes, into law. As discussed here , with this bill, Connecticut joins several other states that have set strict rate caps on consumer loans, including Illinois, New Mexico, Colorado, and California, and those that expressly provide for a predominant economic interest test for true lender purposes.
Account Recovery
JULY 13, 2023
Getting to Know Nicholas Stancu of Pelagic Capital Partners Judge Denies Motion to Remand FDCPA Case Back to State Court Because Plaintiff Spent $7.
Troutman Sanders
JULY 13, 2023
In the latest episode of Regulatory Oversight , the National Association of Attorneys General (NAAG) Executive Director Brian Kane joins co-host Ashley Taylor to discuss the role that NAAG plays among attorneys general. NAAG provides a community for attorneys general and their staff to collaboratively address issues important to their work, as well as training and resources to support attorneys general.
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Account Recovery
JULY 13, 2023
Nicholas Stancu might still be getting his ARM industry sea legs under him, but so far, he has taken to the industry like a duck to water.
On Guard
JULY 13, 2023
Starting from July 1st, 2023, there is a new update in payment regulations. Large companies are legally required to pay small and medium-sized enterprises (SMEs) and self-employed workers within thirty days. Before 2022, large companies had the option to delay payments for sixty, ninety, or even one hundred and twenty days. On July 1st, 2022, the first phase of this law was implemented, but it only applied to specific agreements.
Troutman Sanders
JULY 13, 2023
Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of the Practical Handbook on Fair Lending for Bank Directors and Executive Officers (AABD Handbook). The updated AABD Handbook addresses the dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws over the past decade, with aggressive enforc
Collection Industry News
JULY 13, 2023
According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries – almost 40 per cent of the developing world – are in “serious debt trouble”, Mr. Guterres said, backing calls for them to receive urgent fiscal relief. Last year global public debt reached a record $92 trillion, of which developing countries shoulder 30 per cent – a “disproportionate amount”, the UN chief stressed.
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
Troutman Sanders
JULY 13, 2023
On July 7, Missouri Governor Mike Parson signed SB 103 into law, which prohibits any person from offering earned wage access (EWA) services without registering with the Division of Finance and paying an annual $1,000 fee. The law also requires EWA providers to develop procedures for dealing with consumer questions and complaints, specifies notices required to be given to consumers, and regulates the types of fees that may be charged and the manner in which repayments may be pursued.
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