Debt RR
AUGUST 3, 2020
This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?
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.
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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. Colorado – On June 29, 2020, the Colorado legislature enacted Senate Bill 20-211.
Troutman Sanders
APRIL 19, 2021
Senator Ted Cruz introduced the Financial Institution Customer Protection Act of 2021, which seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accounts receivable management industry. On April 13, U.S. For more information, click here.
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. Current provisions in federal law will allow federal borrowers to seek cancellation if their institution engaged in certain misconduct.
Troutman Sanders
JULY 7, 2021
On June 30, the Federal Financial Institutions Examination Council (FFIEC) issued a new booklet in the FFIEC Information Technology Examination Handbook series, titled, “Architecture, Infrastructure, and Operations.” For more information, click here. For more information, click here. For more information, click here.
Troutman Sanders
JUNE 22, 2021
Federal Activities: On June 18, the Federal Housing Administration (FHA) announced updates to its student loan monthly payment calculations to help provide greater access to affordable single-family FHA-insured mortgage financing for creditworthy individuals with student loan debt, which has a disproportionate impact on people of color.
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