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. The CFPB’s playbook appears to be the same here.

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True Accord

AUGUST 11, 2022

In order to address this gap, lenders are in a unique position to help provide customers with educational content that not only improves customers’ financial literacy but helps with their own retention and acquisition strategies by building and maintaining customer trust and loyalty. Debt levels are on the rise again: according to the?

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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.

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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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National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 A college education is practically the new high school equivalent - it’s pretty much expected to get a job. Let’s take a look at why….

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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 December 27, 2023, the FTC filed suit against Grand Canyon Education, Inc., (GCE) For more information, click here. For more information, click here.

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Credit Corp

JUNE 1, 2021

Monthly expenses might include student loan payments, car payments, and credit card payments. Pay Student Loan Debt. Department of Education has extended loan payment forbearance, zero percent interest accrual, tax-free employer contribution benefits, and its pause on collections.

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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 State Activities.

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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

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

OCTOBER 19, 2021

Federal Activities: On October 15, the Department of Education announced the establishment of an Office of Enforcement within Federal Student Aid, reporting directly to the chief operating officer. On October 4, the CFPB announced that the deadline to request initial forbearance for loans backed by the U.S.

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Fraser

OCTOBER 21, 2022

The new Michigan Achievement Scholarship program will help Michigan families reduce the costs of attending various post-high school education programs. And the new program seeks to reduce or eliminate the need for student loans for families across the state. ——— Records Cannabis Sales in September Reports CRA.

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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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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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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

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. For more information, click here. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.

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Collection Industry News

SEPTEMBER 27, 2022

BUSINESS WIRE)–An annual survey from Discover ® Student Loans revealed that 58% of parents with college-bound students didn’t plan on applying for federal aid, but now have changed their minds. Parents bear a lot of the stress of paying for college, but so do students. Sheetal Shah, September 22, 2022. RIVERWOODS, Ill.–(BUSINESS

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Troutman Sanders

JUNE 21, 2023

Currently, only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are available for trade on EDX. Securities and Exchange Commission (SEC), requesting approval to offer spot Bitcoin exchange-traded fund (ETF) called “iShares Bitcoin Trust.” Department of Education and falsely promising student loan debt relief.

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Credit Corp

MAY 21, 2021

How Does Education Affect Earning Six-Figures? Of course, this number increases when it comes to geographic location, profession, experience, and education level. How Does Education Affect Earning Six-Figures? When it comes to making a six-figure salary, education tends to play a big part.

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Better Credit Blog

MAY 17, 2022

Examples include using a mortgage to purchase a home or investment property, or a student loan to get a college education. Down payment requirements should always be investigated before applying for a loan, particularly if you don’t have a vehicle to trade in for the down payment. The Subprime Auto Loan Trap.

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Troutman Sanders

MARCH 22, 2021

Department of Education announced that about 72,000 student loan borrowers, who were defrauded by their schools, will receive student loan forgiveness that could total $1 billion. For more information, click here. On March 18, the U.S. ” For more information, click here. For more information, click here.

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Better Credit Blog

JANUARY 20, 2022

In keeping with Federal Trade Commission rules , Freedom Debt Relief doesn’t charge upfront fees. In 2010, the company helped to establish Federal Trade Commission rules to ban abusive debt settlement practices and protect consumers. Negotiate with your creditors to reach settlements and reduce your total debt. Ads by Money.

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Troutman Sanders

SEPTEMBER 27, 2022

September 22, the Commodity Futures Trading Commission (CFTC) entered an order, simultaneously filing and settling charges against Ooki DAO and its co-founders Tom Bean and Kyle Kistner. PSLF incentivizes public service work by forgiving a portion of borrowers’ federal student loan debt. For more information, click here.

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Troutman Sanders

APRIL 25, 2022

Federal Activities: On April 18, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , scrutinizing the practice of withholding transcripts from students with delinquent accounts and who are attending an institute of higher education. For more information, click here.

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Fraser

OCTOBER 7, 2022

The new Michigan Achievement Scholarship program will help Michigan families reduce the costs of attending various post-high school education programs. And the new program seeks to reduce or eliminate the need for student loans for families across the state.

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Troutman Sanders

DECEMBER 21, 2021

Virginia Foxx and Julia Letlow, who are both members of the Committee on Education and Labor, requested an examination of the U.S. Department of Education’s decision to terminate its federal student loan contracts with private collection agencies. For more information, click here. On December 16, U.S.

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Collection Industry News

APRIL 4, 2022

First, the background: The company affected was Illuminate Education, which owns Skedula and PupilPath — platforms that crashed this winter as part of the breach, causing headaches for schools that rely on them for everything from tracking attendance to grades.

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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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Troutman Sanders

AUGUST 1, 2023

For example, the bill distinguishes a “digital asset” from a “digital commodity,” empowering the Securities and Exchange Commission (SEC) to regulate the former and the Commodity Futures Trading Commission (CFTC) to regulate the latter. On July 20, Federal Trade Commission (FTC) and the U.S. For more information, click here.

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Troutman Sanders

OCTOBER 11, 2021

Department of Education announced the establishment of an Office of Enforcement within Federal Student Aid (FSA). According to the announcement, the new office will “strengthen oversight of and enforcement actions against postsecondary schools that participate in the federal student loan, grant, and work-study programs.”

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Credit Corp

NOVEMBER 10, 2020

Maybe you’re saving for your kids’ college education. But I know of no one, individual, professional, or otherwise, who has had long-term success trading or timing the market. If you’re a beginner, perhaps you’re saving to buy your first home. Once again, that money will be invested differently than money for a house or retirement.

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Troutman Sanders

MAY 23, 2023

Earlier this month, the Federal Trade Commission (FTC) modified its Telemarketing Sales Rule (TSR) guidance webpage to clarify the requirements for obtaining consent to deliver calls with prerecorded messages and the elements of assisting and facilitating liability. administrative penalty for operating as an unlicensed student loan servicer.

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Troutman Sanders

OCTOBER 17, 2022

The report raises questions about whether some marketing deals between colleges and financial institutions comply with Department of Education rules. On October 11, the CFPB issued its 27th edition of Supervisory Highlights , which included findings on examinations of student loan servicers. For more information, click here.

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Troutman Sanders

NOVEMBER 9, 2021

As part of a series of reports focusing on trends in the consumer financial marketplace, the new research uses data on auto loan, student loan, and credit card accounts opened between 2012 and 2019. For more information, click here. For more information, click here.

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Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. billion.

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Troutman Sanders

APRIL 26, 2021

Cosponsored by all 13 House Democrats on the subcommittee, the bill seeks to amend Section 13(b) of the Federal Trade Commission (FTC) Act to make the FTC’s authority “explicit” to obtain injunctive and equitable relief, including monetary redress for consumers. For more information, click here.

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Better Credit Blog

APRIL 11, 2022

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. Credit counselors help create budgets, offer free educational workshops, and develop plans to repay debts.

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