Nexa Collect

JULY 1, 2020

At any given point, we may have several credit scores based on our financial history, as measured by companies such as FICO or VantageScore Solutions, another credit analysis company. How to Dispute and Remove a Negative Item on your Credit Report. Being denied for new credit is a sign that something is wrong.

Bankruptcy 130

Bankruptcy Lender Credit Unions Credit Unions 130

Troutman Sanders

OCTOBER 26, 2020

October 26, 2020, marks the 50th anniversary of the Fair Credit Reporting Act (FCRA, 15 U.S.C. which along with the Fair Debt Collection Practices Act, Telephone Consumer Protection Act, Section 5 of the Federal Trade Commission Act, and the Truth in Lending Act, forms the foundation of federal consumer rights law in the United States.

Fair Debt Collection 52

Fair Debt Collection Financial services Consumer Credit Trade 52

Credit Corp

MARCH 8, 2023

Find out more about free credit repair for low-income families and individuals below. Check your financial accounts for any credit reporting perks. Some credit card and banking accounts come with credit reporting perks. A Free Look at Your Credit Score Credit scores and reports aren’t the same thing.

Credit Counselor 75

Credit Counselor Education Lender Credit Bureau 75

Troutman Sanders

AUGUST 1, 2023

Dream First Bank, National Association, has agreed to assume all the deposits of Heartland and almost all of Heartland’s failed bank assets. Dream First Bank, National Association, has agreed to assume all the deposits of Heartland and almost all of Heartland’s failed bank assets. For more information, click here.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Better Credit Blog

NOVEMBER 4, 2020

If the CBNA account on your credit report stands for Credit Bureau of North America, you probably have an unpaid bill that they are trying to collect. Community Bank NA: Community Bank NA is a small bank that offers personal and business banking services to residents of New York in Pennsylvania. Conclusion.

Credit Bureau 52

Credit Bureau Banks Trade Collections Agency 52

Troutman Sanders

JANUARY 19, 2022

A recent settlement between the Federal Trade Commission (FTC) and a lead generator provides new insight into the FTC’s enforcement of sensitive personal data collection and sales under the Fair Credit Reporting Act (FCRA) and the agency’s Section 5(a) authority. Consent Order Requirements and Penalties.

Trade 52

Trade Loans Lender Financial services 52

Troutman Sanders

JANUARY 26, 2023

On January 20, 2023, California Attorney General Rob Bonta submitted a letter to the CFPB agreeing with its preliminary determination that California’s Commercial Financing Disclosures Law (CFDL) is not preempted by TILA because the CFDL only applies to commercial financing and not to consumer credit transactions within the scope of TILA.

Financial services 52

Financial services Financial Institution Government Consumer Credit 52

Collection Industry News

DECEMBER 28, 2020

The Federal Trade Commission (FTC) on December 9, 2020, settled with Complete Merchant Solutions, LLC (CMS) and its former CEO, Jack Wilson, requiring them to pay $1.5 million, refrain from processing payments for certain merchants and enact enhanced client screening protocols. In addition to the $1.5

Trade 40

Trade Consumer Credit Banks Collections 40

Troutman Sanders

OCTOBER 30, 2023

District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing injunction against the CFPB’s enforcement of its final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule) to cover all small business lenders nationwide.

Financial services 52

Financial services Financial Institution Trade Banks 52

Troutman Sanders

MARCH 24, 2023

This settlement is yet another example of an activity that the State Attorneys Generals across the United States view as germane to their mandate to protect consumers, especially from perceived unfair or unlawful consumer lending practices.

Personal loans 52

Personal loans Loans Government Trade 52

Better Credit Blog

JANUARY 20, 2022

In keeping with Federal Trade Commission rules , Freedom Debt Relief doesn’t charge upfront fees. Focused on protecting and helping consumers. In 2010, the company helped to establish Federal Trade Commission rules to ban abusive debt settlement practices and protect consumers. Ads by Money. Bankruptcy.

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Troutman Sanders

NOVEMBER 13, 2023

On November 8, while at the Central Bank of Ireland, Federal Reserve Governor Lisa D. On November 8, the European Banking Authority issued draft guidelines defining how stablecoin issuers should structure their risk and management recovery plans concerning reserve assets. For more information, click here.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. But there are many things to consider before jumping into one. How do I choose a debt management agency?

Debt Management 52

Debt Management Unsecured Debt Debt Consolidation Creditors 52

Troutman Sanders

OCTOBER 17, 2022

This letter follows Chairman Clyburn’s May 2022 letters to the NCRAs, requesting information on the companies’ efforts to respond to and resolve credit reporting inaccuracies raised by consumers during the pandemic. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Banks Education Student Loans 52

Troutman Sanders

JANUARY 11, 2022

Federal Activities: On January 5, the Consumer Financial Protection Bureau (CFPB) released a report, discussing changes in complaint responses provided by nationwide consumer reporting companies, which the CFPB concluded resulted in fewer meaningful responses and less consumer relief. For more information, click here.

Financial services 52

Financial services Trade Consumer Credit Government 52

Troutman Sanders

MARCH 11, 2024

Senator Lummis, a vocal supporter of Bitcoin, has been more critical of stablecoins, particularly Tether, and has opposed central bank digital currencies. On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry.

Financial services 52

Financial services Garnishment Lender Banks 52

Fico Collections

FEBRUARY 16, 2021

It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules. 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.

Lender 52

Lender Collections Loans Acquisition 52

Troutman Sanders

DECEMBER 21, 2021

The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology. For more information, click here. Currently, for a one-person household, the federal poverty level is $12,880. For a four-person household, the limit is $26,500.

Financial services 52

Financial services Credit Unions Credit Unions Third-party Debt Collectors 52

Troutman Sanders

NOVEMBER 2, 2020

On October 23, lawmakers in the House of Representatives introduced a bill to exclude Paycheck Protection Program (PPP) loans from regulators’ calculations of the asset size of smaller banks. The legislation would benefit banks and credit unions with assets under $15 billion. For more information, click here.

Financial services 52

Financial services Financial Institution Loans Credit Unions 52

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. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions.

Financial services 52

Financial services Student Loans Student loans Credit Unions 52

Collection Industry News

OCTOBER 17, 2023

Credit cards are the “most prevalent form of household debt,” and their use continues to spread, according to the Federal Reserve Bank of New York. There are 70 million more credit card accounts open now than in 2019, it said. Federally chartered credit unions have an 18% limit. For example, Sen. Bernie Sanders, I-Vt.,

Credit Unions 40

Credit Unions Credit Unions Accrued Interest Credit Card Debt 40

CSA

JUNE 29, 2021

s annual flagship event open to both members and non-members which attract credit and collection professionals from across the UK and Europe. David Miles, Professor of Financial Economics at Imperial College Business School and former member of the Bank of England Monetary Policy Committee, is confirmed as a keynote speaker for the event.

Collections 40

Collections Trade Consumer Credit Banks 40

Collection Industry News

APRIL 11, 2022

I want to make sure my credit report is accurate so I can at least qualify for loans.’. So they started looking at their credit report more, and they found more mistakes,” he said. But a trade group that represents the credit reporting companies questioned the reliability of the CFPB’s complaint reports.

Debt collector 40

Debt collector Loans Trade Consumer Credit 40

Troutman Sanders

JANUARY 30, 2023

The Fed denied Custodia’s application because Custodia’s proposed business model involved issuing crypto-assets on blockchain networks — an activity the Fed previously called “inconsistent with safe and sound banking practices.” The Fed also exhibited concern with Custodia’s ability to mitigate money laundering and terrorism financing.

Financial services 52

Financial services Foreclosure Banks Trade 52

Troutman Sanders

JUNE 14, 2023

On June 8, the board of governors for the Federal Reserve (the Fed), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and the OCC requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

Financial services 52

Financial services Financial Institution Trade Student Loans 52

Troutman Sanders

MAY 2, 2023

On April 27, Federal Trade Commission (FTC) Chair Lina M. Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” For more information, click here.

Financial services 52

Financial services Trade Government Consumer Credit 52

Troutman Sanders

JUNE 21, 2022

Covered institutions include banks, savings associations, credit unions, and mortgage companies. As the most comprehensive publicly available information on mortgage market activity, HMDA data is used by industry, consumer groups, regulators, and others to assess potential fair lending risks and for other purposes.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

AUGUST 16, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. The lawmakers also asked for details regarding the extent to which banks currently engage in crypto-related activities.

Financial services 52

Financial services Loans Student Loans Student loans 52

Troutman Sanders

NOVEMBER 24, 2020

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. Community banking organizations must follow different rules and requirements based on their risk profile and asset size.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

JULY 11, 2023

On July 6, the Federal Trade Commission (FTC) announced that, in cooperation with the state of Florida, it will send refunds to consumers nationwide allegedly defrauded by a telemarketing financial services company, and related companies, into paying for credit card interest rate reduction and debt elimination programs.

Financial services 40

Financial services Student Loans Student loans Credit Card Debt 40

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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

OCTOBER 4, 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. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability.

Financial services 52

Financial services Financial Institution Foreclosure Student Loans 52

CSA

MARCH 4, 2021

In this respect, the path for credit markets looks slightly clearer now that society as a whole has grown more used to lockdown conditions and can see light at the end of the tunnel. consumer credit payment holidays to borrowers so far. but he did not choose to provide additional consumer stimulus this time around.

Government 40

Government Banks Loans Trade 40

Troutman Sanders

OCTOBER 31, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. For more information, click here. On October 19, the U.S. should they fail.

Financial services 52

Financial services Student Loans Student loans Loans 52

Troutman Sanders

NOVEMBER 8, 2022

On November 2, CFPB Director Rohit Chopra delivered remarks at the Consumer Advisory Board meeting, which included a discussion on the fast-growing buy now, pay later market. This would include requiring banks to reimburse consumers for P2P payments made but later identified by consumers as payments to a scammer.

Financial services 52

Financial services Student Loans Student loans Garnishment 52

Troutman Sanders

JANUARY 17, 2023

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. million to consumers and pay a $500,000 civil penalty for deceiving consumers with false claims about their services.

Financial services 52

Financial services Student Loans Student loans Education 52

Collection Industry News

JANUARY 13, 2025

They say the chains tactics drained their bank accounts, ruined their credit and, in some cases, helped push them into bankruptcy. The industry trade journal Beckers Hospital Review recently elevated Advocate to No 4 on itsrankings of the nations largest hospital chains, up from No 7 earlier this year.

Healthcare 40

Healthcare Judgment Government Garnishment 40