Troutman Sanders

NOVEMBER 24, 2020

Federal Trade Commission (FTC) sent a warning letter to a financial aid company based in New York as part of its effort to monitor the marketplace for questionable claims arising from the COVID-19 pandemic. ” The toolkit offers small businesses free operational tools and educational resources to help reduce cyber risks.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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Troutman Sanders

AUGUST 9, 2021

On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022. On August 2, the Supreme Court of the State of New Mexico ordered the gradual lifting of the stay of writs of garnishment and execution in consumer debt collection cases.

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Troutman Sanders

NOVEMBER 8, 2022

Department of Education released final regulations that streamline and improve the rules for major targeted debt relief programs. House of Representatives, seeking to protect a greater portion of consumers’ disposable income from garnishment. For more information, click here. On October 31, the U.S. For more information, click here.

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Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

FEBRUARY 8, 2021

On February 3, the Federal Trade Commission (FTC) provided the Consumer Financial Protection Bureau a summary of its activities enforcing the Equal Credit Opportunity Act. The summary also outlines the FTC’s business and consumer education efforts on fair lending issues. For more information, click here. On February 2, the U.S.

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Troutman Sanders

JANUARY 19, 2021

Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic. Chopra is currently a chairman on the Federal Trade Commission. Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy.

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Troutman Sanders

MARCH 4, 2024

The OAG also found that the debt collection law firm illegally continued to pursue consumers for debts that were already paid or partially paid, and sometimes garnished wages for judgments that were completed. For more information, click here.

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Troutman Sanders

JULY 26, 2021

On July 20, the House of Representatives passed the Consumer Protection and Recovery Act, which aims to revive the Federal Trade Commission’s (FTC) authority to return money to consumers harmed by companies found to engage in deceptive practices. For more information, click here. For more information, click here.

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Troutman Sanders

MARCH 15, 2021

On March 9, state regulators from California, Colorado, Connecticut, Illinois, Maine, Massachusetts, New Jersey, Rhode Island, Washington, and Wisconsin signed a letter directed to the Department of Education asking for a reversal of policies implemented during President Trump’s administration. For more information click here.

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Troutman Sanders

APRIL 5, 2021

Department of Education announced an expansion of the moratorium on federal student loan interest and collections on all defaulted loans under the Federal Family Education Loan program. On March 24, New York Attorney General Letitia James released guidance regarding exemption of American Rescue Plan Act stimulus funds from garnishment.

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Collection Industry News

AUGUST 23, 2022

Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. There will be borrower communications and the Education Department’s website will be updated,” Buchanan said, as to when borrowers can begin the process. Annie Nova, August 19 2022. also qualify.

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Troutman Sanders

AUGUST 31, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. Privacy and Cybersecurity Activities: On August 28, 2020, the Federal Trade Commission (FTC) provided parents with seven considerations to secure their home systems as kids begin school from home. For more information, click here.

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Troutman Sanders

JUNE 22, 2021

Department of Education announced the approval of 18,000 borrower defense to repayment (borrower defense) claims for individuals who attended ITT Technical Institute. On June 15, the Federal Trade Commission (FTC) warned companies of the danger of various business-to-business (B2B) scams as employees begin to return to the workplace. “[C]on

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