Troutman Sanders

MARCH 1, 2023

A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues. A recent decision provides further guidance for lenders and loan servicers enforcing land sale contracts where title to the property does not transfer until the loan is paid in full. In Velazquez v.

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Foreclosure Credit Card Debt Lender Financial Institution 52

Credit Corp

MAY 10, 2023

Your credit score is an important aspect of your financial health and is oftentimes used by lenders, landlords, and even employers to determine your creditworthiness. Hard inquiries , also known as hard pulls, are typically made by lenders and other financial institutions and can harm your credit score.

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Creditworthiness Lender Financial Institution Loans 97

Burr Forman

DECEMBER 4, 2020

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 Sanders

JULY 7, 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. The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders.

Financial services 52

Financial services Financial Institution Student loans Student Loans 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. 424 would, among other provisions, place new documentation requirements on any collection activity concerning student loans for private lenders.

Financial services 52

Financial services Financial Institution Foreclosure Student loans 52

Collection Industry News

JUNE 29, 2024

It involves qualifying and applying for a revolving credit line through a lender, usually a bank or other financial institution. Lenders grant a card with a specific credit limit based on a consumer’s credit rating, credit history, financial situation, as well as their relationship with the customer.

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Credit Card Debt Student Loans Student loans Lender 40

Sawin & Shea

JANUARY 25, 2023

When the Federal Reserve raises interest rates, financial institutions increase their rates accordingly, so those with variable interest rate loans may need to pay more interest than when they initially borrowed the money. Filing for Chapter 13 bankruptcy is also critically important if you’re at risk of home foreclosure.

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Troutman Sanders

SEPTEMBER 7, 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. If finalized, this rule would require lenders to disclose information about their lending to small businesses. State Activities.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Fico Collections

JULY 29, 2020

At the beginning of the lockdowns a former colleague described the problem facing financial institutions as a ‘portfolio of good quality customers facing a temporary shock to their income, all they need is a bit of immediate assistance’. Financial Cliff: More Problems to Come. Financial Cliff: Rethinking Hardship.

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Banks Loans Foreclosure Lender 95

Better Credit Blog

NOVEMBER 5, 2020

COAF is the auto financing arm of the popular financial institution Capital One. Hard inquiries allow lenders to access your full credit report from Equifax, Experian, TransUnion, or all three. Foreclosures. What Is COAF? It offers loans for new and used vehicles, along with refinancing options. Charge offs.

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Loans Lender Financial Institution Foreclosure 70

Troutman Sanders

OCTOBER 26, 2020

On October 23, the Federal Reserve and Financial Crimes Enforcement Network (FinCEN) invited comment on a proposed rule change, requiring financial institutions to keep more records on hand related to smaller-value international fund transfers. For more information, click here. For more information, click here.

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Financial services Financial Institution Foreclosure Banks 52

Better Credit Blog

DECEMBER 18, 2020

While you may have applied for a loan from a popular lender or bank, their name isn’t necessarily the one that will appear on your credit report. Instead, banks, lenders, and other financial institutions turn to consumer credit reporting companies like CBCInnovis to vet applicants. Foreclosures. Charge offs.

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Lender Loans Financial Institution Foreclosure 52

Fico Collections

JULY 15, 2022

in 1989, it meant lenders of all sizes could leverage the technology of scoring and open up credit to consumers that they might not have lent to in the past. Using new approaches to improve financial inclusion. Financial inclusion also means investing in innovation. Hundreds of lenders in the U.S.

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Lender Education Acquisition Financial Institution 52

Troutman Sanders

AUGUST 1, 2023

On July 27, the Senate passed its version of the National Defense Authorization Act (NDAA) bill, which includes a provision that tightens oversight over financial institutions engaged in crypto trading and takes aim at crypto mixers and “anonymity-enhancing” crypto assets. For more information, click here.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Troutman Sanders

MARCH 29, 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. Specifically, the bill included a requirement that the Nevada Financial Institutions Division license the app.

Financial services 52

Financial services Fair Debt Collection Foreclosure Lender 52

Troutman Sanders

OCTOBER 19, 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 October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B.

Financial services 52

Financial services Student Loans Student loans Debt collector 52

Consumer Financial Services Law

MAY 10, 2017

A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.

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Debt collector Acquisition Financial Institution Foreclosure 40

Better Credit Blog

OCTOBER 28, 2020

That’s because applying for a credit card, loan, or in this case a Mastercard, often results in banks and lenders checking your credit report. On the other hand, when you complete an application for some form of credit or other financial product, your report may undergo a hard inquiry. Foreclosures. eBay Mastercard/SYNCB.

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Lender Banks Financial Institution Foreclosure 40

Better Credit Blog

FEBRUARY 25, 2021

Financial institution. When you fail to keep up with payments to a service provider or lender, they often hand your debts off to collections agencies. These agencies might buy your debts for pennies on the dollar or get paid to help the original lender/provider collect. Foreclosure. Healthcare. Bankruptcy.

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Collection Agencies Collections Agency Debt collector Collections 52

Better Credit Blog

JANUARY 29, 2021

Citibank is a major financial institution that offers credit cards in partnership with numerous retailers, including: Best Buy. That being said, lenders might be discouraged from approving your application if your credit report is riddled with hard inquiries. Foreclosure. NTB/CBNA On My Credit Report. Brooks Brothers.

Repossession 52

Repossession Loans Financial Institution Foreclosure 52

Troutman Sanders

JANUARY 11, 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. The PPP will open to all participating lenders shortly thereafter. You may access this interactive tool at [link].

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Fraser

SEPTEMBER 28, 2020

In the areas of banking, commercial, construction and real estate litigation, he represents lenders, contractors and owners on construction-related claims, and lenders and borrowers in commercial and residential foreclosure matters, large loan defaults and collections, lien priority disputes, and title insurance company liability.

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Bankruptcy Creditors Debtor Construction 52

Troutman Sanders

JULY 20, 2020

Employers interested in creating an automatic savings program as a way for employees to build emergency savings and increase their financial resiliency would be able to use the CAST Template as the basis for an application. For more information, click here. For more information, click here. For more information, click here.

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Financial services Loans Banks Financial Institution 52

Troutman Sanders

MAY 9, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Financial services Student loans Student Loans Loans 52

Better Credit Blog

APRIL 11, 2022

This section of your credit report tells potential lenders who you are. If you see an old phone number, chances are it is still on file with the financial institution that issued the loan or credit card. Soft inquiries occur when you check your own credit score or get a quote from a lender or a pre-approval for a loan.

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Creditors Loans Credit Bureau Lender 15

Troutman Sanders

MAY 17, 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. You may access this interactive tool at [link]. For more information, click here. For more information, click here. On May 12, Oregon H.B.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Troutman Sanders

FEBRUARY 22, 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. You may access this interactive tool at [link]. Currently, the act only applies to persons who service student loans.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Troutman Sanders

NOVEMBER 30, 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. These preliminary investigations indicate that some lenders could face civil and/or criminal charges relating to the PPP.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Troutman Sanders

JUNE 22, 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. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). You may access this interactive tool at [link].

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Troutman Sanders

DECEMBER 4, 2023

On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities.

Financial services 52

Financial services Collateral Banks Trade 52

Troutman Sanders

MAY 2, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan, as well as provide a framework for how these loans will be treated under the Truth in Lending Act. For more information, click here. The guidance also describes practices that may assist banks with managing overdraft protection program risks.

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Financial services Trade Government Consumer Credit 52

Troutman Sanders

NOVEMBER 7, 2023

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. For more information, click here. On November 1, the U.S. For more information, click here.

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Financial services Debt collector Loans Foreclosure 52