Burr Forman

NOVEMBER 9, 2020

On October 31, 2020, the SBA released new forms and related instructions requiring borrowers with PPP loans of $2 million or more to provide additional information related to their PPP loans. Titled “ Loan Necessity Questionnaire ”, the SBA released separate forms and instructions applicable to both for-profit and non-profit borrowers.

Loans 40

Loans Lender Government Trade 40

Fico Collections

APRIL 12, 2023

mortgage-backed securities (MBS) being held or traded by institutions and investors, a staggering sum that dwarfs the GDP of every other nation except the U.S. These assets can include loans, leases, and receivables—from aircraft leases to solar projects, but most frequently are commercial or residential mortgages (e.g.,

Lender 52

Lender Financial Institution Collateral Loans 52

ABI

JANUARY 19, 2024

(“BMO”) provided a bridge loan (“the Bridge Loan”) to Intermediate Holding. [6] 6] Sun Capital either guaranteed the Bridge Loan or was otherwise obligated to ensure that the Bridge Loan was repaid ("the Sun Capital Guaranty"). [7] 8] BWGS paid the vast majority of the loan by transferring its own property worth $24.8

Bankruptcy 40

Bankruptcy Financial Institution Loans Banks 40

Troutman Sanders

AUGUST 16, 2022

On August 11, the Federal Trade Commission (FTC) announced it will explore rules to crack down on harmful commercial surveillance and lax data security. On August 10, the CFPB issued an interpretive rule, laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law.

Financial services 52

Financial services Loans Student loans Student Loans 52

Credit Corp

MARCH 20, 2023

Quick answer box There were over 389,000 reports of credit card fraud to the Federal Trade Commission (FTC) in 2021. Sources: Federal Trade Commission and Nilson In 2021, the Federal Trade Commission (FTC) reported that there were 5.7 Loan or lease fraud 197,914 -3.4% However, this does not influence our evaluations.

Trade 98

Trade Government Banks Loans 98

Credit Corp

JANUARY 28, 2021

A few weeks ago, the company ( stock trading as ticker: GME) traded around lows of ~$19. Well, A Trading Euphoria Caused By …. For those of you unfamiliar with stock trading, the two firms had shorted the GameStop stock by borrowing the stock to sell at a given price, with the idea that they will purchase back the stock later.

Trade 134

Trade Retail Acquisition Financial Institution 134

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

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Burr Forman

MARCH 11, 2021

The House of Representatives voted to approve the Senate’s amendments to the ARP on March 10, 2021. Eligible entities also do not include any entity that is a publicly-traded company, which means the entity is majority owned or controlled by an entity that is an issuer, the securities of which are listed on a national securities exchange.

Construction 52

Construction Loans Trade Government 52

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.

Student loans 111

Student loans Student Loans Loans Financial Institution 111

Troutman Sanders

AUGUST 24, 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 report found that the total number of closed-end originations and applications increased substantially between 2019 and 2020.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Credit Corp

JANUARY 25, 2022

million identity theft reports were filed with the Federal Trade Commission—that’s almost double the number from 2019. The more account types you have in good standing on your credit report, the more likely you are to get approved when you go for a low-interest car loan, personal loan, or mortgage. Card Details.

Banks 98

Banks Personal loans Loans Trade 98

Troutman Sanders

JANUARY 20, 2022

On January 13, the Federal Trade Commission (FTC) settled charges against a business credit reporting company, arising from allegations that the company engaged in deceptive and unfair practices. Department of Education’s decision to extend the pause on federal student loan payments. On January 13, a group of U.S. paid to the states.

Financial services 52

Financial services Student loans Student Loans Debt collector 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

Troutman Sanders

NOVEMBER 7, 2023

The guidance, which follows a consultation period that ended on August 10, clarifies the application of the financial promotion oversight regime to “qualifying cryptoassets.” On November 1, the OCC issued a bulletin to inform banks about policy guidance that applies to commercial loans to early, expansion, and late-stage companies.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

SEPTEMBER 19, 2022

The five firms surveyed in the report originated 180 million loans, totaling over $24 billion in 2021 — a near ten-fold increase from 2019. Department of Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and two entities for their roles in conducting malicious cyberattacks, including ransomware activity.

Financial services 52

Financial services Trade Government Banks 52

ABI

JANUARY 13, 2022

In response to the financial crisis of 2007-2008, and the subsequent rise of unfair and deceptive for profit-mortgage assistance relief services (“MARS”), Congress designated the Federal Trade Commission (“FTC”) to employ rules regarding the regulation of MARS. [1] at *9–10. [9] Ass’n 2019). [10] 10] See Consumer Fin.

Retrieval 40

Retrieval Lender Judgment Lawyers 40

Troutman Sanders

FEBRUARY 16, 2022

Federal Activities: On February 10, the Federal Reserve Board released the hypothetical scenarios for its annual bank stress tests, which help ensure that large banks can lend to households and businesses even in a severe recession. billion on December 1, 2019, to $155.6 State Activities. Privacy and Cybersecurity Activities.

Financial services 52

Financial services Banks Trade Financial Institution 52

Troutman Sanders

JUNE 27, 2023

On June 22, the Commodity Futures Trading Commission (CFTC) filed suit against a foreign exchange trader, claiming that the trader misappropriated more than $1.3 On June 22, the Federal Trade Commission filed an amicus brief in the U.S. On June 22, the Commodity Futures Trading Commission filed an enforcement action in the U.S.

Financial services 52

Financial services Banks Trade Loans 52

Troutman Sanders

MARCH 1, 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. million disbursed for 2019. million disbursed for 2019. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

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

MAY 3, 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. On April 26, the EEOC announced the 2019 and 2020 EEO-1 Component 1 Data Collection opening. For more information, click here.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Credit Corp

DECEMBER 3, 2020

There were more than 650,000 instances of reported identity theft in 2019, according to data from the Federal Trade Commission (FTC). When your Social Security number is requested for something like a loan application, be sure that the organization is totally legitimate. Give Your SSN Only to Trusted Entities.

Retrieval 116

Retrieval Banks Credit Unions Credit Unions 116

Fico Collections

SEPTEMBER 23, 2022

Tue, 07/02/2019 - 02:45. Following an unprecedented 10 years of record-low interest rates and multiple false dawns regarding rate increases, the return of inflation has finally resulted in interest rate rises, with more to follow. FICO Admin. by Neil Jennings. expand_less Back To Top. Fri, 09/23/2022 - 11:40. Neil Jennings.

Acquisition 52

Acquisition Financial Institution Banks Trade 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

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. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Collection Industry News

FEBRUARY 21, 2022

February 18, 2022 at 10:52 AM. It is much easier to verify which Robert Smith out of more than 34,000 Robert Smiths is the one with a particular defaulted loan or outstanding credit card balance when that particular Robert Smith’s date of birth and Social Security number is used to confirm his identity. 11 minute read. By James A.

Trade 40

Trade Law Firms Construction Government 40

Fico Collections

JANUARY 27, 2022

It is the only region to be higher than June 2019, prior to the pandemic, by 5%, compared to a drop of 9& in Canada and 23% in the US. In a 2019 Accenture poll , the vast majority (88%) of executives from 120 global banks said emerging ecosystems would change the bank-customer relationship forever. . Are You Ready? . . .

Banks 52

Banks Financial services Lender Financial Institution 52