Collection Industry News

JULY 18, 2022

Fitch Ratings-New York-15 July 2022: Borrowers continue to work with their servicers post-forbearance to avoid loan default, according to Fitch Ratings’ 1Q22 U.S. The sole metric showing stress is in the foreclosure category, which rose marginally to 2% from 1% and to 3% from 2% for bank and non-bank servicers, respectively.

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Collection Industry News

AUGUST 17, 2023

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. percentage points respectively. trillion in Q2 2023.

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Collection Industry News

AUGUST 9, 2021

Centers for Disease Control and Prevention (CDC) issued a new order (the “Order”) that prohibits evictions in parts of the country experiencing “substantial transmission” of the COVID-19 virus. Michael Machado, a Law Clerk in our New York office, contributed to the writing of this alert. Source: site.

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Troutman Sanders

AUGUST 14, 2023

Analisa Torres ruled that three out of four categories of XRP token sales did not constitute an investment contract. Government Accountability Office (GAO) updated its priority open recommendations to the OCC, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve. Ripple Labs , et al. , 20-cv-10832 (S.D.N.Y.),

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Troutman Sanders

MAY 2, 2023

The bill additionally leaves room for assets that don’t fit neatly into either category. 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. Government Money Market Fund.” For more information, click here.

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Financial services Trade Consumer Credit Government 52

Troutman Sanders

MARCH 8, 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. Currently, any student loan debt canceled by the government can be considered taxable and levied at the borrower’s normal income tax rate.

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