Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection.

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FFGN COLLECT NY

MARCH 15, 2022

Chase was one of 13 financial institution censured for robo-signing documents in support of debt collection suits and foreclosure. The investigation was settled and Chase was to adhere to an order demanding an end to the practice. But robo-signing wasn’t just happening within Chase.

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Troutman Sanders

JULY 7, 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. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

OCTOBER 4, 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. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

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Financial services Financial Institution Foreclosure Student loans 52

Credit Corp

MAY 10, 2023

Hard inquiries , also known as hard pulls, are typically made by lenders and other financial institutions and can harm your credit score. Check with your financial institution to see if they offer this service and how you can access your score. What’s a Hard Inquiry? Credit inquiries can be found on your credit report.

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Troutman Sanders

FEBRUARY 21, 2024

The court found that the defendants falsely promised to reduce homeowners’ mortgage payments and prevent foreclosures, defrauding distressed homeowners out of millions of dollars. Hsu discussed the importance of eliminating appraisal bias in the financial industry in remarks at an Appraisal Subcommittee (ASC) Hearing.

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Troutman Sanders

APRIL 19, 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. You may access this interactive tool at [link]. On April 13, U.S.

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Financial services Student loans Student Loans Financial Institution 52

Sawin & Shea

JANUARY 25, 2023

When the Federal Reserve raises interest rates, financial institutions increase their rates accordingly, so those with variable interest rate loans may need to pay more interest than when they initially borrowed the money. Filing for Chapter 13 bankruptcy is also critically important if you’re at risk of home foreclosure.

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Chapter 13 bankruptcy Bankruptcy Loans Foreclosure 72

Troutman Sanders

APRIL 5, 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. The seven rescissions provide guidance to financial institutions on complying with their legal and regulatory obligations.

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Credit Corp

DECEMBER 14, 2020

Brenda’s still tending her garden, though, thanks to a second-chance loan from the New Hampshire Community Loan Fund-a Community Development Financial Institution (CDFI). Sometimes it’s a foreclosure, increasingly often it’s due to large medical bills,” Pinsky notes. Virtually all the folks we see have low credit scores.

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Troutman Sanders

OCTOBER 26, 2020

On October 23, the Federal Reserve and Financial Crimes Enforcement Network (FinCEN) invited comment on a proposed rule change, requiring financial institutions to keep more records on hand related to smaller-value international fund transfers. For more information, click here. For more information, click here.

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Financial services Financial Institution Foreclosure Banks 52

Burr Forman

MAY 20, 2021

Overall, the CDCIA’s proposed changes to consumer finance laws tend to support pro-consumer policies and will require financial institutions, debt collectors, and loan servicers to re-evaluate their business practices if the bill is ultimately passed.

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Collection Industry News

JANUARY 10, 2022

The Nevada Financial Institutions Division is reminding licensed collection agencies that collect residential debt for unit-owners’ associations of common-interest communities to file their report required by Senate Bill 186 by Jan. Source- site.

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Burr Forman

JANUARY 7, 2022

He represents various financial institutions, creditors, landlords, and other parties in all aspects of loan modifications and restructuring, commercial foreclosures, enforcement of security interests and domestic and foreign judgments, Chapter 7 and 11 bankruptcies, and creditors’ rights litigation.

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Troutman Sanders

SEPTEMBER 7, 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. You may access this interactive tool at [link]. State Activities. Privacy and Cybersecurity Activities.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Troutman Sanders

MARCH 1, 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. The eviction moratorium law is part of New York state’s COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.

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Troutman Sanders

MARCH 22, 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. You may access this interactive tool at [link]. According to the FOMC, inflation continues to run below 2%. For more information, click here.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

Fico Collections

JULY 29, 2020

At the beginning of the lockdowns a former colleague described the problem facing financial institutions as a ‘portfolio of good quality customers facing a temporary shock to their income, all they need is a bit of immediate assistance’. This however creates another problem for bank balance sheets.

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Troutman Sanders

NOVEMBER 30, 2020

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. Please click here to visit this new interactive tool: [link]. For more information, click here.

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Financial services Foreclosure Student loans Student Loans 52

Jimerson Firm

FEBRUARY 10, 2022

Still, it appears the court discharged the creditor’s debt primarily because the court considered it to be inequitable to require a debtor to claim cancellation of debt income as gross income while still allowing the creditor to then collect it from the debtor.

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Troutman Sanders

OCTOBER 19, 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 October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B.

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Financial services Student loans Student Loans Debt collector 52

Consumer Financial Services Law

MAY 10, 2017

A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.

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Troutman Sanders

MARCH 8, 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. The program will invest $9 billion in community development financial institutions and minority depository institutions.

Financial services 52

Financial services Retail Foreclosure Financial Institution 52

Troutman Sanders

MARCH 29, 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. Specifically, the bill included a requirement that the Nevada Financial Institutions Division license the app.

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Financial services Fair Debt Collection Lender Foreclosure 52

Better Credit Blog

DECEMBER 18, 2020

Instead, banks, lenders, and other financial institutions turn to consumer credit reporting companies like CBCInnovis to vet applicants. Foreclosures. While you may have applied for a loan from a popular lender or bank, their name isn’t necessarily the one that will appear on your credit report. Charge offs. Debt in collections.

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Lender Loans Financial Institution Foreclosure 52

Troutman Sanders

JANUARY 11, 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. You may access this interactive tool at [link]. The PPP will open to all participating lenders shortly thereafter.

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Financial services Foreclosure Collection Agencies Collections Agency 52

Credit Corp

JANUARY 28, 2021

During the 2008 financial crisis downturn, banks were giving loans to anyone to make more and more money while selling mortgages to poor credit individuals. Their greed eventually reached a point where many homeowners could not make their mortgage payments causing foreclosures, and eventually, a recession.

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Better Credit Blog

FEBRUARY 25, 2021

Financial institution. Foreclosure. Headquartered in Beachwood, Ohio, the agency has been operating since 1970. Over the past 50 years, FFCC has collected debts in the following industries: Business to business. Healthcare. If you carry debt in any of those industries, the entry featured on your report could be legitimate.

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Collection Agencies Collections Agency Debt collector Collections 52

Better Credit Blog

JANUARY 29, 2021

Citibank is a major financial institution that offers credit cards in partnership with numerous retailers, including: Best Buy. Foreclosure. In the article below, we’ll break down the details of the NTB/CBNA credit card, how a hard inquiry works, and what you can do to get an inaccurate inquiry off your report. Brooks Brothers.

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Repossession Loans Financial Institution Foreclosure 52

Troutman Sanders

OCTOBER 16, 2023

NSF fees are distinct from overdraft fees, which financial institutions charge when they pay, rather than decline, a payment when the account lacks sufficient funds. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions. On October 10, D.C.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Better Credit Blog

OCTOBER 28, 2020

On the other hand, when you complete an application for some form of credit or other financial product, your report may undergo a hard inquiry. That’s where the lender or financial institution requests your full credit report from one or all of the major credit bureaus to vet you and assess the risk involved in approving your application.

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Lender Banks Financial Institution Foreclosure 40

Fico Collections

JULY 15, 2022

are part of this program, where FICO Scores used by financial institutions are shared with consumers for free. Then, again, with our FICO ® Score Open Access program that we launched in 2013. Hundreds of lenders in the U.S.

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Lender Education Acquisition Financial Institution 52

Troutman Sanders

JULY 20, 2020

Employers interested in creating an automatic savings program as a way for employees to build emergency savings and increase their financial resiliency would be able to use the CAST Template as the basis for an application. For more information, click here. For more information, click here.

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Financial services Loans Banks Financial Institution 52

Fraser

SEPTEMBER 28, 2020

In the areas of banking, commercial, construction and real estate litigation, he represents lenders, contractors and owners on construction-related claims, and lenders and borrowers in commercial and residential foreclosure matters, large loan defaults and collections, lien priority disputes, and title insurance company liability.

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Bankruptcy Creditors Debtor Construction 52

Troutman Sanders

MAY 9, 2023

The first of its kind, the strategy examines the phenomenon of financial institutions de-risking and its causes, and it identifies those greatest impacted. Department of the Treasury issued the 2023 De-Risking Strategy, as mandated by Congress in the Anti-Money Laundering Act of 2020. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

AUGUST 1, 2023

On July 27, the Senate passed its version of the National Defense Authorization Act (NDAA) bill, which includes a provision that tightens oversight over financial institutions engaged in crypto trading and takes aim at crypto mixers and “anonymity-enhancing” crypto assets. For more information, click here.

Financial services 52

Financial services Financial Institution Debt collector Fair Debt Collection 52

Troutman Sanders

MAY 17, 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. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

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