rules-policy advisory-committees 
Collection Industry News
JUNE 21, 2021
The California Department of Financial Protection and Innovation (DFPI) is considering a proposed rule to add to the agency’s license application process and recently concluded a public comment period. Source: site. California became one of 35 states to require a license for debt collection effective Jan. 1, 2022, to comply.
Troutman Sanders
JANUARY 18, 2022
In 2021, Congress waded into the digital asset policy waters through its inclusion of expanded cryptocurrency and digital asset rules as part of the $1 trillion Infrastructure Investment and Jobs Act (HR 3584), which was signed into law by President Joe Biden on November 15. Senator Cynthia Lummis (R-WY).
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Troutman Sanders
SEPTEMBER 18, 2023
This was FinCEN’s first enforcement action against a Puerto Rican international banking entity and includes the first violation for failure to implement and maintain an anti-money laundering program under the Gap Rule. For more information, click here. The second quarter trading revenue was $3.9 For more information, click here.
Troutman Sanders
NOVEMBER 10, 2020
Federal Activities: On November 5, a federal court ruled that the Small Business Administration (SBA) must release detailed information for all loans issued under the Paycheck Protection Program (PPP), including name of borrowers and the loan amounts. State Activities. Privacy and Cybersecurity Activities. For more information, click here.
Collection Industry News
JULY 19, 2021
The DFPI expects the final rules on licensing, if adopted, will take effect on or around Nov. The DFPI’s new debt collection advisory committee , also created under the DCLA, will holds its first meeting July 28. Cindy Yaklin, president of States Recovery Systems Inc. and the California Association of Collectors Inc. .;
Troutman Sanders
AUGUST 2, 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 July 23, the CFPB issued consumer advisory “Know Your Rights Under the Servicemember Civil Relief Act (SCRA).”
Troutman Sanders
SEPTEMBER 5, 2023
On August 30, the Consumer Financial Protection Bureau (CFPB) issued a Consumer Advisory notifying consumers about actions they should take when their home insurance policy is cancelled or if the cost of the policy becomes unaffordable. For more information, click here. For more information, click here. On August 29, the U.S.
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