Troutman Sanders
FEBRUARY 13, 2024
On February 6, the Federal Trade Commission (FTC) announced that it will ban a group of student loan debt relief “scammers” (defendants) from the debt relief industry. She also expressed concern about the risks posed by stablecoins to the financial system. For more information, click here. For more information, click here.
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. On February 15, the CFPB published a blog recounting its action against a student loan debt relief business and a debt-settlement company.
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Troutman Sanders
OCTOBER 9, 2023
The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled. Supreme Court heard oral argument in Community Financial Services Association of America v. For more information, click here.
Troutman Sanders
OCTOBER 16, 2023
State Activities: On October 12, California’s Department of Financial Protection and Innovation (DFPI), announced, in its October bulletin, that final regulations to implement the Student Loan Servicing Act and the Student Loans Borrower Rights Law have been approved and will become effective January 1, 2024.
Troutman Sanders
FEBRUARY 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. Borrowers deserve and desperately need relief from their Federal student loan burden, and they need that relief immediately.”
Troutman Sanders
AUGUST 1, 2023
On July 27, the Financial Innovation and Technology for the 21st Century Act passed the House Committee on Agriculture. The bill previously passed the House Committee on Financial Services on July 26. For more information, click here. As part of the introduced public resolution, Councilmember Robert C.
Troutman Sanders
AUGUST 9, 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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