Collection Industry News
MAY 2, 2023
. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. Read the blog, Zombie second mortgages: When collectors come for long forgotten home loans.
Collection Industry News
AUGUST 18, 2020
Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The borrower then filed an action in federal court, claiming that an assortment of alleged misrepresentations in the foreclosure case constituted violations of the FDCPA.
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Burr Forman
MAY 20, 2021
Prohibiting servicers of private education loans from reporting an adverse item of information relating to the nonpayment of the loan for an established period of time.
Troutman Sanders
MAY 10, 2021
Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. ” Some governments have attempted to create these “travel bubbles,” such as Hong Kong and Singapore.
Collection Industry News
MAY 18, 2021
2547, the Non-Judicial Foreclosure Debt Collection Clarification Act, which would reverse the unanimous decision made by the Supreme Court of the United States (SCOTUS) in 2019. Amend the FDCPA to expand and clarify coverage, including extending coverage for all federal, state, and local debts collected by debt collectors.
Troutman Sanders
APRIL 12, 2021
Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On April 5, the CFPB proposed a set of rule changes to help prevent foreclosures as the emergency federal foreclosure protections expire.
Collection Industry News
MAY 30, 2022
abusive acts or practices); (2) any of the 18 enumerated consumer laws listed within the CFPA ( e.g. , Equal Credit Opportunity Act, Fair Debt Collection Practices Act, Truth in Lending Act); or (3) any rule or order prescribed by the CFPB, such as consent orders.
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