Account Recovery

AUGUST 21, 2020

Less than a month after suing one federal regulator, a group of state attorneys general filed suit yesterday against another one, seeking to block the implementation of a rule aimed at ensuring the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying and … The post State AGs Sue FDIC Over (..)

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Account Recovery

AUGUST 21, 2020

The Court of Appeals for the Fourth Circuit has overturned a lower court’s dismissal of a lawsuit in which the seller of a portfolio of loans sued the buyer for allegedly violating the terms of their agreement when the buyer turned around and re-sold the loans to someone else, determining that a federally chartered credit … The post Appeals (..)

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Debt Buying Loans 147

Account Recovery

AUGUST 21, 2020

Appeals Court Overturns Dismissal of Debt Buying Contract Dispute; Judge Denies MTD in FDCPA Case appeared first on AccountsRecovery.net.

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Account Recovery

FEBRUARY 14, 2022

A District Court judge in California has sided with the Office of the Comptroller of the Currency, a federal regulator of banks, after it was sued by three states — California, Illinois, and New York — for allegedly overstepping its authority when it issued a rule ensuring the terms of a loan remain valid after … The post Court Rules (..)

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Banks Loans Debt Buying 246

Credit Corp

MARCH 1, 2023

However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.

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Account Recovery

JANUARY 6, 2021

A group of eight state attorneys general filed suit yesterday in federal court in New York to block a rule that was issued by the Office of the Comptroller of the Currency that aimed to close a gap in the process of banks selling loans to third parties, such as debt buyers, arguing that the … The post States Sue Bank Regulator to Overturn ‘True (..)

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Lender Banks Loans Debt Buying 246

FFGN COLLECT NY

DECEMBER 12, 2023

In addition, the attorney must provide a list of income types protected from collection should the court grant the debt collector a judgment on the case. You must inform consumers about the debt specifics. Debt buying is a common practice in New York. First, payday loans are illegal in New York.

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Debtor Debt collector Debt Buying Original Creditor 52