Credit Corp

NOVEMBER 9, 2020

In its annual report to Congress about debt collection complaints, the Consumer Financial Protection Bureau described collection complaints received by the Federal Trade Commission (FTC). Stating that failure to pay will result in imprisonment, seizure of property, garnishment of wages, or other false claims.

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Stevens Lloyd

JULY 30, 2018

However, the trade gap between international countries and the United States has been bridged. Due to the increased level of import-export trade between the U.S. trades with, the United Kingdom has one of the lowest import/export ratios of indebtedness. and other countries, it will not be uncommon for debts to be accrued.

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Troutman Sanders

DECEMBER 20, 2022

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

AUGUST 9, 2021

On August 2, the Supreme Court of the State of New Mexico ordered the gradual lifting of the stay of writs of garnishment and execution in consumer debt collection cases. Effective September 1, 2021 through January 31, 2022, the order also adopted new rules to assist renters facing foreclosures as the federal moratorium expired.

Financial services 52

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Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. For more information, click here.

Financial services 52

Financial services Financial Institution Loans Credit Unions 52

Troutman Sanders

OCTOBER 26, 2020

The task force also adopted an updated report on trade-based money laundering and recognized progress by a number of jurisdictions. On October 22, the Federal Trade Commission (FTC) launched a new website, ReportFraud.ftc.gov , where consumers can report fraud and all other consumer issues directly to the FTC.

Financial services 52

Financial services Financial Institution Foreclosure Banks 52

Troutman Sanders

APRIL 19, 2021

On April 15, the Federal Trade Commission (FTC) announced the first enforcement action taken under the new COVID-19 Consumer Protection Act (COVID-19 CPA), which imposes monetary penalties on violators. Companies also would be required to submit business-specific requirements, which pertain to information related to licensing a business.

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Collection Industry News

JUNE 14, 2021

Here are snapshots of some cases against debt collectors that the State Attorney General’s Office, Federal Trade Commission and other law enforcement agencies have pursued in the past decade. In recent years, authorities have either fined, seized or issued judgments totaling $120.4 “We’re on a $300,000-a-month pace right now.”.

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Troutman Sanders

MARCH 11, 2024

On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry. The SEC alleged that Shapeshift violated Section 15(a) of the Securities Exchange Act of 1934 by facilitating trades in crypto assets without registration.

Financial services 52

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Troutman Sanders

MARCH 4, 2024

The OAG also found that the debt collection law firm illegally continued to pursue consumers for debts that were already paid or partially paid, and sometimes garnished wages for judgments that were completed.

Financial services 52

Financial services Law Firms Acquisition Debt collector 52

Troutman Sanders

MAY 23, 2023

Earlier this month, the Federal Trade Commission (FTC) modified its Telemarketing Sales Rule (TSR) guidance webpage to clarify the requirements for obtaining consent to deliver calls with prerecorded messages and the elements of assisting and facilitating liability. For more information, click here. For more information, click here.

Financial services 52

Financial services Banks Debtor Education 52

Troutman Sanders

JANUARY 19, 2021

Chopra is currently a chairman on the Federal Trade Commission. Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy. The report identifies hurdles residents face to obtain assistance in Maryland courts, including with eviction and garnishment proceedings.

Financial services 52

Financial services Garnishment Foreclosure Government 52

Troutman Sanders

NOVEMBER 1, 2021

On October 29, the Federal Trade Commission (FTC) issued a new enforcement policy statement, warning companies against deploying illegal dark patterns that trick or trap consumers into subscription services. For more information, click here. For more information, click here.

Financial services 52

Financial services Garnishment Financial Institution Debt collector 52

Troutman Sanders

FEBRUARY 8, 2021

On February 3, the Federal Trade Commission (FTC) provided the Consumer Financial Protection Bureau a summary of its activities enforcing the Equal Credit Opportunity Act. The debt collection rule is currently scheduled to go into effect on November 30, 2021. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Troutman Sanders

JANUARY 31, 2022

On January 27, the Federal Trade Commission (FTC) announced that consumers in 2021 reported losing about $770 million to fraud initiated on social media — about one fourth of all reported fraud losses for the year and an 18-fold increase from 2017, according to the FTC’s latest Consumer Protection Data Spotlight.

Financial services 52

Financial services Trade Government Banks 52

Troutman Sanders

MARCH 15, 2021

Pritzker issued an executive order extending the suspension of garnishment, deduction of wages, and post-judgment citations to discover assets through April 3. On March 12, the Federal Trade Commission (FTC) warned consumers that scammers will follow, and try to take advantage of, the new COVID-19 rescue plan.

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Troutman Sanders

JULY 26, 2021

On July 20, the House of Representatives passed the Consumer Protection and Recovery Act, which aims to revive the Federal Trade Commission’s (FTC) authority to return money to consumers harmed by companies found to engage in deceptive practices. For more information, click here. For more information, click here. Constitution.

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