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.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

UK debt collections

JUNE 25, 2020

With reportedly half of the companies that applied for CBILS loans being declined and cash flow under strain, as invoices take longer to be settled, the research shows that 85% of business owners have felt a sense of loss of control over the past three months. In March, the majority (56%) felt business would normalise by September 2020.

Debt Recovery 86

Debt Recovery Loans Lender Trade 86

Credit Corp

JULY 24, 2021

Here’s a rundown of everything you’ll need to start trading stocks online in 2021. Moneylenders and brokers traded bonds or debt certificates between government entities, businesses, and individuals. Five securities, including three government bonds and stocks of two banks, began trading. Stock Market.

Trade 105

Trade Government Banks Loans 105

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

Collection Industry News

APRIL 2, 2021

The Consumer Financial Protection Bureau is giving its clearest signal yet that a 2020 regulation easing standards for payday lenders is in jeopardy, despite efforts already in motion by the industry to implement the Trump administration rule. attorney representing payday lenders and past president of the Payday Loan Bar Association. “The

Lender 40

Lender Loans Banks Trade 40

Price Meese

MARCH 18, 2021

The Paycheck Protection Program (“PPP”) has begun accepting loan applications again since the policy lapsed in August. The law also set aside about $90 billion for first-time loan recipients, smaller-scale borrowers, and smaller community financial institutions that focus their lending on the minority and other underrepresented people.

Loans 52

Loans Financial Institution Trade Government 52

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.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Collection Industry News

SEPTEMBER 14, 2021

House Democratic lawmakers on Thursday proposed awarding the Federal Trade Commission (FTC) $1 billion to set up a bureau dedicated to improving data security and privacy and fighting identity theft. For example, in 2020, it settled with Zoom over allegations that the company misled consumers about the level of security it provided.

Manufacturing 40

Manufacturing Trade Government Loans 40

Troutman Sanders

AUGUST 24, 2020

Federal Activities: On August 21, 2020, U.S. Secretary of Education Betsy DeVos implemented President Donald Trump’s memorandum extending relief on federally held student loans to borrowers through the end of the year. On August 21, 2020, the U.S. On August 20, 2020, the U.S. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Education 52

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

Troutman Sanders

MAY 16, 2022

Federal Activities: On May 12 and May 10, the House Financial Services and Senate Banking Committees, respectively, held hearings with Financial Stability Oversight Council (FSOC) Chairwoman Secretary Yellen to discuss FSOC’s annual report to Congress. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

Financial services 52

Financial services Foreclosure Lender Judgment 52

Burr Forman

AUGUST 25, 2020

Once the impact of COVID-19 became apparent, the federal government implemented several relief programs, and loans made under the new Paycheck Protection Program (“PPP”) became one of the most publicized relief efforts put in place, largely due to the forgiveness aspect of these loans.

Loans 52

Loans Healthcare Lender Government 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. 5 of 2020 (DP Law 2020). For more information, click here. On August 8, the U.S.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

FEBRUARY 16, 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 February 10, Montana Governor Greg Gianforte signed Senate Bill No. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Banks 52

Troutman Sanders

AUGUST 17, 2020

Federal Activities: On August 12, 2020, the Consumer Financial Protection Bureau published Frequently Asked Questions (FAQs) and answers pertaining to compliance with the Payday Lending Rule. The FAQs explain what types of loans are covered, payment transfers, and payment notices. On August 11, 2020, the U.S.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

APRIL 18, 2023

Court of Appeals for the Fourth Circuit held that the Military Lending Act (MLA) does not govern loans borrowed in part to finance the purchase of a car, even when the loan covers additional related costs. On April 10, President Joe Biden signed HJR7 into law, declaring the end of the COVID-19 emergency installed on March 13, 2020.

Financial services 52

Financial services Financial Institution Loans Bankruptcy 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

JUNE 30, 2021

The company operates as a debt and equity investor for lower middle market companies (those with $10-$150 million of annual revenues) seeking to transform their capital structures. of its base rental billings in 2020. Prospect invests primarily in first and second lien senior loans and mezzanine debt. Main Street Capital (MAIN).

Retail 94

Retail Loans Trade Acquisition 94

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

Troutman Sanders

OCTOBER 4, 2022

Federal Activities: On September 30, the Commodity Futures Trading Commission (CFTC) filed an enforcement action against crypto futures and spot market exchange Digitex and its founder and CEO Adam Todd. State Activities. The CFTC alleged that Digitex violated the Commodity Exchange Act by failing to register as a futures commission merchant.

Financial services 52

Financial services Trade Retail Banks 52

Troutman Sanders

SEPTEMBER 14, 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. Under the proposal, the OCC would go back to the previous 1995 regulations for the Community Reinvestment Act (CRA), a 1977 fair lending law.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Credit Corp

JANUARY 25, 2022

Guard It: In 2020, more than 1.4 million identity theft reports were filed with the Federal Trade Commission—that’s almost double the number from 2019. Installment accounts are products like personal loans and car loans, which have fixed monthly payments. Your credit mix accounts for 10% of your credit score.

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

MARCH 4, 2024

Consumers use comparison-shopping tools to evaluate the costs, features, and terms of many financial products, including credit cards, loans, and bank accounts. The agency is mailing notices to 1,137 businesses who were customers of First American between June 2017 and April 2020, and later cancelled their services.

Financial services 52

Financial services Law Firms Acquisition Debt collector 52

Credit Corp

JULY 16, 2021

Management believes, post-pandemic, investments in acquisitions, re-development, and development projects can drive returns of at least 10%. At the end of 2020, Whitestone had a debt-to-equity ratio of about 2.1x. PPL Corporation owns and distributes power to more than 10 million people in the U.S Portfolio occupancy was 98.3%.

Acquisition 98

Acquisition Banks Trade Manufacturing 98

Troutman Sanders

MAY 17, 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 May 12, the Senate Commerce Committee (FTC) voted to proceed with Lina Khan’s nomination as commissioner of the Federal Trade Commission.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Credit Corp

JUNE 5, 2021

For example, since the early 1920s, the average annual return for the S&P 500 has been about 10%. For example, according to Marketwatch , the best performing stock in 2020 was Tesla, at a whopping 743%. For example, in the spring of 2020, the banking sector got decimated, while tech held up quite well. Help Others.

Education 98

Education Trade Consolidate Debt Startups 98

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

MARCH 14, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here. government.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MARCH 15, 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 new executive order extends protections originally put in place on April 14, 2020 by Executive Order 2020-25.

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Troutman Sanders

MARCH 6, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here. government.

Financial services 52

Financial services Student loans Student Loans 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. billion for Fannie Mae and Freddie Mac’s affordable housing allocations for 2020. 711 million will go to the U.S.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

SEPTEMBER 5, 2023

Court of Appeals for the District of Columbia ruled in favor of Grayscale Investments, requiring the SEC to review the company’s application to convert its over-the-counter Grayscale Bitcoin Trust into a listed Bitcoin exchange-traded fund. ATSI, a Chicago-based broker-dealer, has agreed to pay $1.5 million to settle the charges.

Financial services 52

Financial services Banks Trade Home Insurance 52

Troutman Sanders

JUNE 22, 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. These borrowers will receive 100% loan discharges, resulting in approximately $500 million in relief. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

JULY 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. Beginning July 1, 2020, the California Department of Justice began enforcing the CCPA by notifying businesses found not complying with the law.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Collection Industry News

JANUARY 19, 2021

states one consumer’s report to the Consumer Financial Protection Bureau in January 2020. “I million in forgivable loans to Capio and an affiliated firm, the Law Office of Mitchell D. More than half of small-business loans went to larger businesses, new SBA data shows. Companies fined by regulators received loans.

Debt collector 40

Debt collector Lender Collections Loans 40

Fico Collections

JUNE 20, 2022

How Might Buy Now, Pay Later Loans Impact FICO® Scores? Key findings from FICO research on consumer credit files with recently opened Buy Now, Pay Later loans. market: BNPL reporting approach: How a BNPL lender reports these accounts to a credit bureau can materially influence the impact these loans ultimately have on the FICO® Score.

Loans 52

Loans Consumer Credit Credit Bureau Personal loans 52