Troutman Sanders

JANUARY 19, 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. Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic.

Financial services 52

Financial services Garnishment Foreclosure Government 52

Troutman Sanders

DECEMBER 4, 2023

On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities. For more information, click here.

Financial services 52

Financial services Collateral Banks Trade 52

Burr Forman

MARCH 11, 2021

The ARP was then sent to President Joe Biden’s desk and officially signed into law on March 11, 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

Troutman Sanders

AUGUST 22, 2022

On August 16, the CFPB director issued a statement on the announcement regarding the cancellation of loans for ITT Tech students. On August 12, the Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. For more information, click here. For more information, click, here. On August 15, the U.S.

Financial services 52

Financial services Financial Institution Trade 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] Ass’n 2019). [10] 11] See id. at *10–11. [16] at *9–10.

Retrieval 40

Retrieval Lender Judgment Lawyers 40

Troutman Sanders

NOVEMBER 7, 2023

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. Before making any loan, bank management should identify the purpose of the loan and the source of repayment. For more information, click here. On November 1, the U.S.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

FEBRUARY 6, 2023

The class consisted of “all persons or entities that transacted in the Tokens” on Coinbase’s exchange platform between October 8, 2019 through March 11, 2022 — the class-action lawsuit filing date. District Court for the Southern District of New York federal judge granted Coinbase, Inc.’s For more information, click here.

Financial services 52

Financial services Trade Banks Bankruptcy 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

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. On January 11, the FTC issued a blog post to help consumers take advantage of the U.S. On January 13, a group of U.S. paid to the states.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Fico Collections

SEPTEMBER 23, 2022

Tue, 07/02/2019 - 02:45. Fri, 09/23/2022 - 11:40. Deposit pricing frameworks are necessarily more complex than loan pricing frameworks – payments don’t just flow in and out of financial institutions, they flow from back-book to front-book products, and between fixed-term and instant-access products as well. FICO Admin.

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

Troutman Sanders

OCTOBER 15, 2021

Even sophisticated parties and publicly traded companies are getting scammed. A Florida lawyer engaged by family members to handle the sale of a car dealership in upstate New York received payment instructions by email from a lender’s lawyer directing that the wire of funds for a loan payoff be sent to a bank account at M&T in New York.

Lawyers 52

Lawyers Banks Financial Institution Education 52

Collection Industry News

FEBRUARY 21, 2022

11 minute read. 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. February 18, 2022 at 10:52 AM. By James A.

Trade 40

Trade Law Firms Construction Government 40

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