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. That was the case for at least 1 in 10 Americans ages 16 and older in 2016, according to the most recent data from the Bureau of Justice Statistics. Loans and Leases.

Student loans 111

Student loans Student Loans Loans Financial Institution 111

Troutman Sanders

JULY 5, 2023

On June 30, the Commodity Futures Trading Commission (CFTC) announced new members and leadership of the Global Markets Advisory Committee (GMAC) and its corresponding subcommittees on global market structure, technical issues, and digital asset markets. A call must be ended within 10 seconds of a consumer indicating a desire to end the call.

Financial services 52

Financial services Financial Institution Credit Unions Credit Unions 52

Troutman Sanders

AUGUST 14, 2023

In its appeal, the SEC stated that it intended to seek certification of the court’s holding that certain “programmatic sales” over crypto-asset trading platforms in exchange for labor and services did not involve the offer or sale of securities. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

MAY 9, 2023

For the first year after the effective date of the proposal, these firms would be subject to an excise tax of 10% of the costs of electricity they use in digital asset mining. billion in revenue over 10 years. The excise tax would then increase to 20% in the second year, and it would reach its maximum of 30% in year three.

Financial services 52

Financial services Student loans Student Loans Loans 52

Collection Industry News

JANUARY 19, 2021

million in forgivable loans to Capio and an affiliated firm, the Law Office of Mitchell D. Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post. Companies fined by regulators received loans.

Debt collector 40

Debt collector Lender Collections Loans 40

Troutman Sanders

APRIL 26, 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 senators introduced this bill in 2018 and 2019. Representative Tony Cardenas introduced the Consumer Protection and Relief Act.

Financial services 52

Financial services Debt collector Loans Banks 52

Troutman Sanders

DECEMBER 27, 2022

Federal Activities: On December 23, the Federal Trade Commission (FTC) issued a proposed consent order, requiring Mastercard to end a practice that allegedly forced merchants to route debit card payments through Mastercard’s payment network in violation of the Durbin Amendment to the Dodd-Frank Act and Regulation II. State Activities.

Financial services 52

Financial services Banks Trade Retail 52

Fico Collections

FEBRUARY 16, 2021

But more tellingly, the penalty related to the mistreatment of business and personal customers who fell behind on credit card and loan payments between 2014 and 2018 – well before many of us had even heard of COVID-19. The creation of the BBL Engagement Scheme is expected to cost around £10 million annually for the next three years.

Lender 52

Lender Collections Loans Acquisition 52