Troutman Sanders
MAY 5, 2022
The CFPB sees wrongful repossessions everywhere. Per the report, recent examinations found that servicers engaged in unfair acts or practices when they repossessed vehicles after consumers took action that should have prevented the repossession. Failing to trigger refunds of GAP protection after a repossession.
Collection Industry News
MAY 9, 2022
The CFPB sees wrongful repossessions everywhere. Per the report, recent examinations found that servicers engaged in unfair acts or practices when they repossessed vehicles after consumers took action that should have prevented the repossession. Failing to trigger refunds of GAP protection after a repossession.
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Sawin & Shea
FEBRUARY 28, 2024
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. When seeking a new personal loan after bankruptcy, use legitimate lenders, such as major financial institutions, credit unions, or through Credit Karma. Nonpayment of title loans can lead to vehicle repossession.
Qualco
NOVEMBER 7, 2023
Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. Consequently, financial institutions operate within an economy marked by contraction and sustained inflationary pressures.
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. This order was extended until December 31, 2020. This guidance is set to expire March 31, 2021.
Collection Industry News
JUNE 14, 2021
The Consumer Financial Protection Bureau is making a comeback. The CFPB, which oversees financial institutions with a keen focus on consumer protection and ensuring financial markets are fair and equitable, was a diminished force during the Trump administration.
Troutman Sanders
OCTOBER 12, 2023
Overdraft, NSF, and Statement Fees: Examiners found that some financial institutions charged consumers re-presentment NSF fees without giving the consumer an opportunity to prevent another fee after the first failed attempt.
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