Collection Industry News

OCTOBER 22, 2023

Amberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. In August, she applied for the Public Service Loan Forgiveness program with her loan servicer, MOHELA, or the Missouri Higher Education Loan Authority. Outstanding education debt in the U.S.

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Direct Recovery

JANUARY 31, 2021

There are a wide range of issues to address when it comes to student loan debt, but the one idea that addresses just about everything is that many students aren’t educated on all of their options before (or even after) they sign up to be on the hook for expenses occurred on account of their education. Parent Plus Loans.

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Troutman Sanders

APRIL 14, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

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Collection Industry News

MARCH 22, 2022

SoFi is one of the private student lenders lobbying to stop, or at least curtail, the pandemic-related moratorium on federal student loan payments that is now stretching into a third year. It’s not clear yet if any lawmakers will take the company up on the request to attach the language to the next education funding package.

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Collection Industry News

AUGUST 30, 2022

Many student loan borrowers and consumer advocates breathed a sigh of relief Wednesday that the promise of student loan forgiveness was finally becoming a reality. But for businesses trying to turn a profit on managing these loans, the uncertainty looms large. trillion student loan balance in the U.S.,

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Collection Industry News

APRIL 18, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

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Collection Industry News

MARCH 8, 2021

The new Interim Final Rule issued by the SBA on March 3, 2021, reverses the prior rules by indicating that independent contractors and employers who were otherwise eligible to receive PPP loans may do so regardless of whether the borrower or a 20% or more owner is in default under Federal Student Loans.

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Troutman Sanders

OCTOBER 3, 2023

On October 2, Grayscale Investment submitted its filing to the Securities and Exchange Commission (SEC) to convert its Ethereum Trust into a spot exchange traded fund (ETF). On September 29, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) filed a joint amicus brief in the U.S.

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The Kaplan Group

MAY 3, 2022

Jump To A Section: Qualifications for Veteran Business Loans/Grants Different Types of Loans Available For Veterans How To Apply to Business Loans Veteran Business Loans FAQ More Business Credit and Loan Resources For Veterans. Qualifications for Veteran Business Loans/Grants.

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Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” Recently opened bank revolving trades.

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Troutman Sanders

MARCH 21, 2023

On March 15, the Federal Trade Commission (FTC) submitted a report to Congress discussing its findings regarding the frauds, scams, and bad business practices that affect American Indian and Alaska Native (AI/AN) communities and the FTC’s efforts to address these issues. Supreme Court ruling in AMG Capital Management, LLC v.

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Credit Corp

APRIL 19, 2024

This number will fluctuate when one examines factors like the location, education, and health of certain populations. How Does Education Affect Earning Six Figures? Having a higher education can create more opportunities to earn a six-figure salary after college. Avoid student loans to the best of your ability.

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Troutman Sanders

JANUARY 9, 2024

On January 4, the Federal Trade Commission (FTC) and the State of Connecticut announced they are filing suit against an auto dealer for several of its business practices. On January 1, Freddie Mac announced that it is launching a pilot program to work with sellers on improving the quality of performing loans.

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True Accord

AUGUST 11, 2022

Whether it’s taking out a loan, buying a house, saving for retirement or purchasing goods on a credit card,, people are constantly being asked to make decisions that affect their personal finances. New York Federal Reserve , between the national student loan debt topping $1.6 Debt levels are on the rise again: according to the?

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Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. The case, Department of Agriculture Rural Development Rural Housing Service (USDA) Kirtz , involved a borrower who claimed the USDA inaccurately reported his loan as “past due,” damaging his credit score.

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Troutman Sanders

JANUARY 23, 2024

billion in additional student loan debt relief for 73,600 borrowers. These discharges are the result of fixes to income-driven repayment (IDR) forgiveness and public service loan forgiveness (PSLF) made by the administration. On January 19, the Biden-Harris administration announced the approval of $4.9 For more information, click here.

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Collection Industry News

MAY 3, 2021

Supreme Court to provide a uniform, nationwide standard for what debtors must prove to eliminate student loan debt in bankruptcy. Wiping out student loan debt through bankruptcy is exceedingly difficult. Some courts require a debtor to prove “intolerable difficulties” or a “total incapacity” to ever repay the loans.

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Credit Corp

APRIL 9, 2024

You may qualify if you have expenses related to your first four years of higher education, such as tuition, textbooks, or course fees. Lifetime Learning Credit The Lifetime Learning Credit is also an educational credit, but it’s a little more flexible than the AOTC. Additionally, the AOTC is partially refundable.

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Troutman Sanders

FEBRUARY 26, 2024

Securities and Exchange Commission (SEC) and South Korea’s Financial Supervisory Service (FSS) will discuss the classification and regulation of nonfungible tokens (NFTs) and spot Bitcoin exchange-traded funds (ETFs). On February 23, the Federal Trade Commission (FTC) announced that it finalized an order with Global Tel*Link Corp.

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Troutman Sanders

NOVEMBER 17, 2021

The Federal Trade Commission (FTC) recently released a “Serving Communities of Color” report that details fraud and consumer issues that have a disproportionately negative impact on communities of color. Some of the most relevant insights from the 2021 report data include: Within Majority Latino Communities. Within Majority Black Communities.

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Troutman Sanders

JANUARY 17, 2023

Federal Activities: On January 13, the Federal Trade Commission (FTC) announced that an investment advice company agreed to a proposed court consent order, requiring it to refund more than $1.2 million to 20,402 people who paid thousands of dollars for a Warrior Trading’s investment programs. State Activities.

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Troutman Sanders

JULY 28, 2022

The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) highlighted their efforts to aggressively enforce provisions of the Military Lending Act (MLA) in a recently issued press release and testimony before Congress. for requiring servicemembers to repay loans by allotments, a violation of the MLA.

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Troutman Sanders

MARCH 28, 2023

Department of Education announced that it will hold virtual public hearings on April 11-13 to receive stakeholder feedback on potential issues for future rulemaking sessions. On March 22, the SEC issued a Wells Notice to Nasdaq-traded cryptocurrency exchange Coinbase, Inc. For more information, click here. On March 23, the U.S.

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Credit Corp

JULY 24, 2021

Here’s a rundown of everything you’ll need to start trading stocks online in 2021. Educating myself about the stock market as a college student gave me the confidence to start my transcription company years later. Five securities, including three government bonds and stocks of two banks, began trading. Stock Market.

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Troutman Sanders

SEPTEMBER 27, 2022

The CFPB invites insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. Notably, the order specifically stated that “[v]irtual currencies such as ETH, DAI, and others” traded on the bZx protocol constitute “commodities” under the CEA.

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Troutman Sanders

OCTOBER 9, 2023

The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled. On October 4, the Federal Trade Commission (FTC) held a roundtable to discuss the impact of artificial intelligence on creative fields.

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Credit Corp

MARCH 30, 2023

The investing information provided is for educational purposes only. Government Bonds Sometimes, the government needs to borrow money, so they offer people the option to loan them money via government bonds. Corporate Bonds Like government bonds, corporate bonds are loans, but you’re providing that loan to a company.

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Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated. For more information, click here.

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Troutman Sanders

JUNE 7, 2022

Federal Activities: On June 3, the Federal Trade Commission (FTC) provided its annual report to the Consumer Financial Protection Bureau (CFPB) on its 2021 enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA). State Activities.

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Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. For more information, click here. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.

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Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Troutman Sanders

OCTOBER 12, 2021

Consent Order #1: New Jersey Higher Education Student Assistance Authority. On September 20, the DOJ entered into a consent order with New Jersey Higher Education Student Assistance Authority (HESAA) to resolve claims that it violated the SCRA by obtaining unlawful default judgments against two military servicemembers.

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Troutman Sanders

SEPTEMBER 18, 2023

On September 14, the CFPB released a report on Tuition Payment Plans in Higher Education. Ninety-eight percent of colleges now allow students to pay for their education in installments using tuition payment plans. On September 14, the Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S.

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Troutman Sanders

JUNE 14, 2023

On June 8, the Commodities Futures Trading Commission (CFTC) obtained a default judgment against a decentralized autonomous organization (DAO) Ooki Dao in the U.S. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. For more information, click here.

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Troutman Sanders

OCTOBER 30, 2023

District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing injunction against the CFPB’s enforcement of its final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule) to cover all small business lenders nationwide.

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Collection Industry News

MARCH 23, 2021

The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic. The report is available here. About Consumer Financial Protection Bureau.

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Troutman Sanders

FEBRUARY 23, 2022

Federal Activities: On February 18, the Consumer Financial Protection Bureau (CFPB) released a bulletin, detailing student loan servicers’ obligation to halt unlawful conduct on borrowers’ eligibility and benefits under the Public Service Loan Forgiveness Waiver. Department of Education forgiving $71.7 On February 16, the U.S.

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