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.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

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.

Financial Institution 40

Financial Institution Repossession Debt collector Student loans 40

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.

Personal loans 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

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.

Financial Institution 90

Financial Institution Debtor Loans Collateral 90

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.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Collection Industry News

MARCH 21, 2022

Already with a heightened interest in vehicle repossessions , the Consumer Financial Protection Bureau (CFPB) announced changes last week to its supervisory operations involving what it deems to be illegal discrimination, including in situations where fair lending laws may not apply. Source: site.

Repossession 40

Repossession Financial Institution Government Banks 40

Credit Corp

MARCH 7, 2021

Lenders of secured loans can repossess collateral if the loan is not repaid. A bank, credit union, or other financial institution often approves the loan based on creditworthiness of the borrower, their credit history, and their perceived ability to repay. A car might be put up as collateral for an auto loan.

Personal loans 98

Personal loans Loans Collateral Lender 98