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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Genesis filed for Chapter 11 protection in January 2023 with $5.1 Speaking to the House Financial Services Committee, Yellen highlighted the potential risks posed by digital assets, including runs on digital asset platforms and price volatility. billion in debt. For more information, click here. On February 8, the U.S.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

However, due to partisanship in the Senate, Senator Lummis believes her bill is unlikely to pass before the House Financial Service Committee’s bill is introduced. Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work.

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Alvaro Bedoya Confirmed as Third Democrat at FTC

Troutman Sanders

On May 11, the Senate voted 51-50 to confirm Alvaro Bedoya as a member of the Federal Trade Commission (FTC), requiring Vice President Kamala Harris to cast the tie-breaking vote. Bedoya gives Democrats a 3-2 majority at the consumer protection agency. Bedoya’s confirmation was not a sure thing.

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Can Banks be Liable for Processing or Underwriting a Loan that a Borrower Cannot Afford?

Jimerson Firm

15, 2016) (holding that banks have no duty to “process, convert, administer, or service” the borrower’s loan); Grave v. 14-60975-CV, 2014 WL 11776961, at *9 (S.D. 8:10-CV-338-T-33TGW, 2011 WL 6719215, at *11 (M.D. 8:10–cv338, 2011 WL 6719215, at *10–11 (M.D. Brake , 2011 WL 6719215, at *10-11. Wells Fargo Fin.

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FICO Women Leaders: Sharing Our Insights and Success

Fico Collections

FICO has customers worldwide, and I am intent on increasing opportunities for women in technology and financial services. Stephanie joined FICO in 2014, recently serving as executive vice president of sales and marketing. But it’s not enough to do this work at FICO alone. Join us there!

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Timing is Everything: 11th Circuit Finds Loss Mitigation Application Untimely

Consumer Financial Services Law

Ocwen Loan Servicing, the court considered whether the mortgage servicer had an obligation to evaluate a loss mitigation application when, at the time the completed application was submitted, a foreclosure sale was scheduled to occur in two days. Ocwen Loan Servicing, 2016 U.S. LEXIS 18264 (11 th Cir.

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Can a Lender Pursue Debt Collection After a Charge Off and 1099-C Issuance?

Jimerson Firm

a United States District Court in the 11 th Circuit analyzed the issue of whether a creditor’s issuance of a 1099-C extinguishes or cancels a debt. 1:11–cv–72, 2012 WL 1098619, at *7 (W.D.N.C. A majority of courts have held that the issuance of a 1099-C does not automatically discharge a debt or prohibit future collection activities.

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