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COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

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.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

The extension serves as an operational accommodation, allowing additional processing time for banks, community development financial institutions, and other financial institutions to pledge any Small Business Administration-approved Paycheck Protection Program (PPP) loans to the facility through the PPP program’s June 30 expiration date.