Fico Collections

AUGUST 16, 2021

Our latest FICO UK Credit Market Report looking at UK card trends for June 2021 shows that average card spend continued to increase compared to 2020. It also exceeds the June 2019 spend by £23 with the sunny weather and the Euro 2020 competition likely to have contributed to this uptick. Missed payment rates remain low. Looking ahead.

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Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. Genesis filed for Chapter 11 protection in January 2023 with $5.1 Supreme Court unanimously ruled that government agencies can be sued for violations of the Fair Credit Reporting Act (FCRA).

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Financial services Student loans Student Loans Collection Agencies 52

Fraser

JUNE 25, 2020

economy officially entered a recession in February, 2020, one month before COVID-19 shut down much of the economy. As chapter 11 bankruptcies continue to increase (many analysts are forecasting the “ wave ” of filings to grow), more businesses and individuals will be impacted by the fallout. The Petition Date. First Day” Motions.

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information. State Responses.

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Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

JANUARY 23, 2024

billion in additional student loan debt relief for 73,600 borrowers. These discharges are the result of fixes to income-driven repayment (IDR) forgiveness and public service loan forgiveness (PSLF) made by the administration. On January 19, the Biden-Harris administration announced the approval of $4.9 For more information, click here.

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Financial services Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

SEPTEMBER 21, 2020

Federal Activities: On September 18, 2020, the Federal Reserve Board updated its frequently asked questions (FAQs) to clarify the Board’s and Department of Treasury’s expectations for lenders underwriting the Main Street Lending Program. On September 18, 2020, the Federal Reserve Board issued its Report on Economic Well-Being of U.S.

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Financial services Banks Government Acquisition 52

Fico Collections

JANUARY 26, 2022

The payment deferrals enacted in 2020 will likely result in future repayment challenges once collection activities resume. While Government will likely take a hand in directing the pace of some collection activities, others will be determined by the debt holder. Student Loan Challenges. More Digital Communication. Trillion owed.

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Collections Student loans Student Loans Government 52

Troutman Sanders

DECEMBER 12, 2023

Department of Housing and Urban Development (HUD) announced an extension of the public comment date for its Notice of Proposed Rulemaking that would remove criminal conviction restrictions for fair housing testers by nine days, to January 11, 2024. billion in student loan debt relief for 80,300 borrowers.

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Financial services Banks Collection Agencies Collections Agency 52

Troutman Sanders

JANUARY 11, 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. The PPP will open to all participating lenders shortly thereafter. For more information, click here.

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Financial services Foreclosure Collection Agencies Collections Agency 52

Troutman Sanders

NOVEMBER 21, 2022

On November 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on its proposal to develop a new data set to better monitor the auto loan market. On November 11, the U.S. For more information, click here. For more information, click here. On November 9, the U.S. For more information, click here.

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Financial services Banks Lender Trade 52

Troutman Sanders

MARCH 28, 2023

Department of Education announced that it will hold virtual public hearings on April 11-13 to receive stakeholder feedback on potential issues for future rulemaking sessions. The published data contains loan-level information filed by financial institutions and modified to protect consumer privacy. For more information, click here.

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Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

MAY 31, 2023

The FTC and the State of Florida sued the telemarketing company and its owners in July 2020, alleging that they charged consumers as much as $3,995 for their debt relief services, making claims that they were affiliated with major credit card companies and could save consumers thousands of dollars by securing reduced interest rates.

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Financial services Financial Institution Banks Trade 52