Troutman Sanders

SEPTEMBER 29, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. Privacy and Cybersecurity Activities: On September 25, the Federal Trade Commission (FTC) alerted consumers that businesses have falsely claimed to be approved lenders for the Small Business Administration’s coronavirus lending program.

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Better Credit Blog

AUGUST 31, 2020

It is enforced by the Federal Trade Commission , a federal agency that protects consumers and maintains fair competition in the marketplace, including debt collection attempts. Threatening to garnish wages without a court order. Likewise, you can complain to the state attorney general’s office or the Federal Trade Commission.

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Better Credit Blog

APRIL 4, 2022

Therefore, you’re in a good position when you tell the debt collector you are aware of The FDCPA and that any violation will be documented and forwarded to the Federal Trade Commission (FTC) as well as the Consumer Financial Protection Bureau (CFPB) and your State Attorney General’s office. Try To Negotiate On Older Debts.

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Sawin & Shea

FEBRUARY 2, 2022

If a creditor does not want to participate, they can still pursue you in all the ways allowed by law including lawsuits and wage garnishments. There are many lenders out there that offer consolidation loans that allow you to pay off all of your creditors and simply combine the debt into one loan, with one lower payment and a reduced rate.

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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. For more information, click here. For more information, click here.

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Troutman Sanders

MARCH 29, 2021

On March 25, Senators Chris Van Hollen and Sherrod Brown, along with Representative Chuy Garcia, announced legislation to repeal the Office of the Comptroller of the Currency’s True Lender Rule through the use of the Congressional Review Act. Moreover, hospitals must offer payment plans to patients who do not exceed 5% of their income.

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Credit Corp

AUGUST 31, 2021

Judgments may give collectors additional collection powers, such as access to the money a debtor has in their bank account or the ability to garnish wages to collect the judgment. If the debt was sold by the original lender at 6 years, and you made a payment with the new debt buyer, it could restart the clock. You default on that debt.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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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.

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Troutman Sanders

JUNE 22, 2021

On June 14, the CFPB released a report analyzing the differences in lending patterns for lenders below and above the 100-loan, closed-end threshold set by the 2020 Home Mortgage Disclosure Act (HDMA). While the CFPB’s analysis is preliminary, the report shows some differences in lending patterns for lenders above and below the threshold.

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Troutman Sanders

JULY 7, 2021

The plaintiffs, who include landlords and real estate trade associations from Alabama and Georgia, argue that the CDC exceeded its authority by imposing the ban. The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders. For more information, click here. On June 29, the U.S.

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Troutman Sanders

NOVEMBER 7, 2023

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. For more information, click here. On November 1, the U.S.

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