Troutman Sanders

MAY 16, 2022

Federal Activities: On May 12 and May 10, the House Financial Services and Senate Banking Committees, respectively, held hearings with Financial Stability Oversight Council (FSOC) Chairwoman Secretary Yellen to discuss FSOC’s annual report to Congress. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

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Financial services Foreclosure Lender Judgment 52

Troutman Sanders

AUGUST 14, 2023

On August 8, the Office of the Comptroller of the Currency (OCC) issued a bulletin to provide banks with guidance regarding the applicability of the legal lending limit to purchased loans. Whether a loan purchased by a bank is attributable to the seller under the legal lending limit regulation depends on specific facts and circumstances.

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Financial services Foreclosure Banks Loans 52

Collection Industry News

MARCH 14, 2022

A&B ABstract : On February 24, Governor Kathy Hochul signed into law Assembly Bill 8771 (2022 N.Y. The obligation arose in response to a written or electronic request from the borrower, and required the lender (or a servicer acting on the lender’s behalf) to provide the SPOC within 10 business days of such request.

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Foreclosure Loans Lender Financial services 40

Troutman Sanders

OCTOBER 16, 2023

In April, Coinbase petitioned the Third Circuit to compel the SEC to answer its July 2022 petition, which requested for the agency to promulgate crypto-specific regulations. Court of Appeals for the Third Circuit that SEC staff had made a recommendation on how to respond to crypto exchange Coinbase’s petition for crypto rulemaking.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Troutman Sanders

NOVEMBER 7, 2023

The guidance, which follows a consultation period that ended on August 10, clarifies the application of the financial promotion oversight regime to “qualifying cryptoassets.” On November 1, the OCC issued a bulletin to inform banks about policy guidance that applies to commercial loans to early, expansion, and late-stage companies.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

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.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

MAY 2, 2023

PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels. Previously introduced in June 2022, the bill fortified its provisions regarding national security and cybercrime — a concern top regulators continue to express about digital assets.

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Financial services Trade Consumer Credit Government 52