Credit Corp

NOVEMBER 18, 2020

According to the Federal Trade Commission (FTC), there were more than 650,000 victims of identity theft in 2019, making ID theft the most-reported type of FTC complaint. Somebody with your personal information might try to apply for a loan online. The FTC has also reported fraud instances related to student loans and payday loans.

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Troutman Sanders

FEBRUARY 23, 2022

Federal Activities: On February 18, the Consumer Financial Protection Bureau (CFPB) released a bulletin, detailing student loan servicers’ obligation to halt unlawful conduct on borrowers’ eligibility and benefits under the Public Service Loan Forgiveness Waiver. Student loan debt payments are scheduled to resume May 1.

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National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 Unfortunately, this means student loans (unless you have access to scholarships, independent wealth, grants, or other resources).

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Troutman Sanders

JANUARY 9, 2024

On January 4, the Federal Trade Commission (FTC) and the State of Connecticut announced they are filing suit against an auto dealer for several of its business practices. They allege that the dealer deceived consumers about the price of certified used cars, add-ons, and government fees. For more information, click here.

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Troutman Sanders

MARCH 28, 2023

On March 23, the Federal Trade Commission (FTC) issued a notice of proposed rulemaking with the stated goal to make it easier for consumers to cancel recurring subscriptions and memberships. On March 22, the SEC issued a Wells Notice to Nasdaq-traded cryptocurrency exchange Coinbase, Inc. For more information, click here.

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Katabat

OCTOBER 6, 2021

As members of the House and Senate continue to play brinksmanship about the debt ceiling and the potential for another government shutdown before year’s end, it is painful to think of the potential for our credit rating taking another hit. I think everyone in our industry winced when S&P downgraded the U.S.

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Katabat

OCTOBER 6, 2021

As members of the House and Senate continue to play brinksmanship about the debt ceiling and the potential for another government shutdown before year’s end, it is painful to think of the potential for our credit rating taking another hit. I think everyone in our industry winced when S&P downgraded the U.S.

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Fraser

OCTOBER 21, 2022

Why it Matters: These increases are in response to soaring inflation, which continue to impact the economy and government policy. And the new program seeks to reduce or eliminate the need for student loans for families across the state. ——— Records Cannabis Sales in September Reports CRA.

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Collection Industry News

JUNE 29, 2024

Total household debt includes mortgages, home equity lines of credit (HELOCs), student loans, auto loans, other, and credit cards.1 The government also provided stimulus checks to help alleviate the financial burden for consumers. Student loan debt decreased by $6 billion to $1.60

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Troutman Sanders

DECEMBER 21, 2021

Department of Education’s decision to terminate its federal student loan contracts with private collection agencies. Scammers impersonate the government or businesses, which has resulted in $2 billion in losses between October 2020 and September 2021. For more information, click here. For more information, click here.

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Troutman Sanders

JUNE 21, 2023

Currently, only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are available for trade on EDX. Securities and Exchange Commission (SEC), requesting approval to offer spot Bitcoin exchange-traded fund (ETF) called “iShares Bitcoin Trust.” Department of Education and falsely promising student loan debt relief.

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Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. For more information, click here. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.

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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.

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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. Consumer debts: The FDCPA applies to all consumer debts, like credit cards, student loans, and medical bills, but it does not apply to commercial debts.

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Hudson Weir

FEBRUARY 28, 2023

Unsecured Creditors This group includes contractors, customers, trade creditors, suppliers, and claims besides debts and holiday pay by workers. Once you enter insolvency, it’s vital to boost the interests of creditors, or you may be subject to allegations of illicit or unauthorised trading.

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Better Credit Blog

JANUARY 20, 2022

In keeping with Federal Trade Commission rules , Freedom Debt Relief doesn’t charge upfront fees. In 2010, the company helped to establish Federal Trade Commission rules to ban abusive debt settlement practices and protect consumers. Negotiate with your creditors to reach settlements and reduce your total debt. Ads by Money.

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Troutman Sanders

FEBRUARY 21, 2024

On February 15, the CFPB published a blog recounting its action against a student loan debt relief business and a debt-settlement company. The CFPB alleged that the defendants charged thousands of consumers with federal student loans approximately $9.2 For more information, click here. For more information, click here.

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Consumer Financial Services Law

AUGUST 30, 2016

Just when you think all you had were government regulatory rules and regulations that may impact your bottom line, along comes the sleeper regulator of a generation of consumers with an aversion to credit and its risks. The National Creditors Bar Association (NARCA) is a trade association dedicated to creditors rights attorneys.

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Troutman Sanders

FEBRUARY 21, 2023

On February 14, Federal Trade Commission (FTC) Commissioner Christine Wilson announced plans to leave the agency. participants, including officials from the Treasury Department, Federal Reserve Board, Commodity Futures Trading Commission, FDIC, SEC, and OCC, participated in the U.S.-EU For more information, click here.

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Troutman Sanders

APRIL 25, 2022

On April 15, the CFPB released its annual Fair Debt Collection Practices Act (FDCPA) report, which summarizes the CFPB’s activities to administer the FDCPA and also includes activities conducted by the Federal Trade Commission (FTC) relating to debt collection. The CFPB indicates many rural communities are “banking deserts.” “For

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Troutman Sanders

MAY 9, 2023

On May 4, the White House published technology standard document “United States Government National Standards Strategy for Critical and Emerging Technology.” On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. For more information, click here.

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Troutman Sanders

OCTOBER 30, 2023

This bill would instruct the Consumer Financial Protection Bureau (CFPB) and the Government Accountability Office to conduct a study on BNPL and EWA services to help determine the degree to which consumers are utilizing both services for retail purchases. For more information, click here. For more information, click here.

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Collection Industry News

MARCH 23, 2021

The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.

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Troutman Sanders

OCTOBER 11, 2021

According to the announcement, the new office will “strengthen oversight of and enforcement actions against postsecondary schools that participate in the federal student loan, grant, and work-study programs.” For more information, click here. For more information, click here.

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Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

DECEMBER 19, 2023

According to the statement issued by SEC Commissioner Gary Gensler, “the existing securities regime appropriately governs crypto asset securities.” On December 12, Minnesota Attorney General Keith Ellison announced that his office obtained a settlement with a California student loan debt relief company. On December 12, the U.S.

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Troutman Sanders

OCTOBER 17, 2022

On October 12, Federal Trade Commission Chair Lina Khan and the Department of Justice – Antitrust Division Assistant Attorney General Jonathan Kanter participated in the G7 Joint Competition Policy Makers & Enforcers Summit as part of the “2022 G7 Digital and Technology Track.” For more information, click here. and the U.S.,

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Troutman Sanders

APRIL 26, 2021

The complaint asks the court to declare the transfer void and order the seizure and sale of the property to partially repay the debt-collector’s outstanding debt to the federal and state governments. For more information, click here. On April 22, the U.S. Representative Tony Cardenas introduced the Consumer Protection and Relief Act.

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Troutman Sanders

JUNE 14, 2023

On June 8, the Commodities Futures Trading Commission (CFTC) obtained a default judgment against a decentralized autonomous organization (DAO) Ooki Dao in the U.S. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. For more information, click here.

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Troutman Sanders

FEBRUARY 22, 2021

The letter states that “[b]road cancellation of Federal student loan debt will provide immediate relief to millions who are struggling during this pandemic and recession, and give a much-needed boost to families and our economy. Currently, the act only applies to persons who service student loans.

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Collection Industry News

OCTOBER 22, 2023

Amberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. In August, she applied for the Public Service Loan Forgiveness program with her loan servicer, MOHELA, or the Missouri Higher Education Loan Authority. She was done with her debt, or so she thought.

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Troutman Sanders

SEPTEMBER 14, 2021

On September 8, the Federal Trade Commission (FTC) approved final revisions that would bring several rules that implement parts of the Fair Credit Reporting Act in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

SEPTEMBER 11, 2023

On September 7, the Commodity Futures Trading Commission’s (CFTC) Commissioner Caroline D. On September 7, the CFPB published a new issue spotlight highlighting the impacts of Big Tech companies’ policies and practices that govern tap-to-pay on mobile devices like smartphones and watches. For more information, click here.

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Fico Collections

JANUARY 26, 2022

Experiment with trade-offs between decision factors and business constraints, simulate various scenarios and compare their impact on collections key performance indicators and contributions to the bottom-line. In 2021, we can expect Government protections to consumers will begin to end. Student Loan Challenges.

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Troutman Sanders

OCTOBER 9, 2023

The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled. On October 4, the Federal Trade Commission (FTC) held a roundtable to discuss the impact of artificial intelligence on creative fields.

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Collection Industry News

APRIL 12, 2021

We also can expect that industry trade organizations will have time and opportunity for input, possibly interjecting a “human intervention” test, an “actual use” focus, or other limitations. In 2016, Congress used the process to exempt calls made to collect federal student loans from the TCPA ( later struck down as unconstitutional ).

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Troutman Sanders

JUNE 21, 2022

Department of Education announced it would discharge all remaining federal student loans for students who attended any college run by Corinthian Colleges. million in loan relief.” For more information, click here. For more information, click here. In North Carolina, “12,470 borrowers will receive a total of $142.1

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