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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Currently, any student loan debt canceled by the government can be considered taxable and levied at the borrower’s normal income tax rate. On March 4, Nevada announced new guidance pertaining to its upcoming May 1 transition of authority over COVID-19 mitigation measures to local authorities. For more information, click here.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

The CFPB hold the position that delaying the final rule’s compliance date would give lenders more time to use the government-sponsored enterprise patch, which provides QM status to loans eligible for sale to Fannie Mae or Freddie Mac. For more information, click here. For more information, click here.