True Accord

JANUARY 21, 2025

CFPB Looks at Medical Debt, Student Loans and So Much Data Medical debt wasnt the only focus for the Consumer Financial Protection Bureau in Q4. and was broad-based across income and education groups. Additionally, the average perceived probability of missing a minimum debt payment over the next three months increased to 14.2%

Student Loans 83

Student Loans Student loans Credit Card Debt Financial Institution 83

Troutman Sanders

JULY 12, 2023

On June 14, Nevada Governor Joe Lombardo signed into law AB 332 , An Act Relating to Student Education Loans, requiring, among other things, student loan servicers to be licensed by the Commissioner of Financial Institutions and regulating certain conduct of the servicers towards borrowers. Providing inaccurate information to a credit bureau.

Student Loans 52

Student Loans Student loans Loans Credit Unions 52

Troutman Sanders

DECEMBER 21, 2021

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.

Financial services 52

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

Troutman Sanders

APRIL 6, 2021

AI also can inform credit decisions by analyzing traditional data ( i.e., data typically found in a consumers’ credit files) and alternative data. Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning.

Financial Institution 52

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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

JANUARY 17, 2023

The states argue in the brief that the secretary of education acted within his statutory authority when he targeted debt cancellation for lower-income borrowers affected by the COVID-19 pandemic. Supreme Court in support of the Biden administration’s student loan forgiveness plan. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Education 52

Credit Corp

OCTOBER 6, 2023

Here are the standout findings of various debt statistics: The average American household has over $9,000 in credit card debt. WalletHub ) Mississippi has the least credit card debt at $5,259 per person. Credit Karma ) Alaska has the most credit card debt on average at $8,139.

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