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New York Federal Reserve , between the national studentloan debt topping $1.6 Overall, lower levels of financial literacy end up contributing to increased rates of bankruptcy, defaults, and foreclosures. Debt levels are on the rise again: according to the?
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.
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. attorney’s office to stop judicial foreclosures and evictions on accounts previously referred to the DOJ.
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]. 1, 2020 through March 31, 2021, totaling $64 million in reported losses.”
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.
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. On June 29, the U.S.
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. On March 18, the U.S. For more information, click here.
Total household debt includes mortgages, home equity lines of credit (HELOCs), studentloans, auto loans, other, and credit cards.1 Studentloan debt decreased by $6 billion to $1.60 1 Approximately 44,000 borrowers had foreclosure notations on their credit reports, a little more from the previous quarter.7
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. For more information, click here. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.
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 September 28, Federal Trade Commission (FTC) Chair Lina M. You may access this interactive tool at [link].
The average American builds credit by opening a credit card account, acquiring studentloan debt, or making car payments. Many people also live paycheck to paycheck , making it difficult to avoid applying for loans if they urgently need money. Get Your Free Credit Report Card. My Debt-Free Life Started Late in My Adult Life.
The court found that the defendants falsely promised to reduce homeowners’ mortgage payments and prevent foreclosures, defrauding distressed homeowners out of millions of dollars. On February 15, the CFPB published a blog recounting its action against a studentloan debt relief business and a debt-settlement company.
For example, the bill distinguishes a “digital asset” from a “digital commodity,” empowering the Securities and Exchange Commission (SEC) to regulate the former and the Commodity Futures Trading Commission (CFTC) to regulate the latter. On July 20, Federal Trade Commission (FTC) and the U.S. For more information, click here.
On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. For more information, click here. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.
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.
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. Borrowers deserve and desperately need relief from their Federal studentloan burden, and they need that relief immediately.”
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.
The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered studentsloan forgiveness promises that were not fulfilled. On October 4, the Federal Trade Commission (FTC) held a roundtable to discuss the impact of artificial intelligence on creative fields.
On October 13, the Federal Trade Commission (FTC) warned consumers of scammers pretending to promise studentloan debt relief. Due to the pandemic, people with federal studentloans have some protections, but others claim to provide additional governmental protections for a fee. For more information, click here.
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]. The third requirement involves license-specific requirements.
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 stimulus package includes a provision that would end the current policy of considering any student debt forgiven taxable income.
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 January 31, 2022, the pause on interest and payments for federally held studentloans will end.
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 April 1, the CFPB issued a warning to mortgage servicers to take necessary steps to prevent a wave of foreclosures this fall.
The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020. The April 3, 2020 executive order limiting foreclosures and repossessions remains in effect upon the most recent extension of the state of emergency, issued on November 25, 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. On February 8, HB 32 was introduced in Ohio, seeking to place a moratorium on the collection of some studentloans and health care debt.
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 April 5, the CFPB proposed a set of rule changes to help prevent foreclosures as the emergency federal foreclosure protections expire.
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]. Representative Tony Cardenas introduced the Consumer Protection and Relief Act.
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. Department of Education to continue excusing borrowers from making payments on their studentloans in light of the COVID-19 pandemic.
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.
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.
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.
President Biden’s nominee to lead the CFPB, Federal Trade Commission member Rohit Chopra, was the bureau’s first studentloan ombudsman under former CFPB Director Richard Cordray and is expected to return the bureau to its former place at the forefront of consumer protection in financial services.
Federal Activities: During the week of August 24, 2020, the Consumer Financial Protection Bureau (CFPB) updated pages relating to studentloans and its guidance on protecting credit during COVID-19. The REO eviction moratorium applies to Enterprise-acquired properties through foreclosure or deed-in-lieu of foreclosure transactions.
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 July 29, the Federal Trade Commission (FTC) announced that it will send refund checks, totaling nearly $2.3
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. On May 27, U.S.
On February 6, the Federal Trade Commission (FTC) announced that it will ban a group of studentloan debt relief “scammers” (defendants) from the debt relief industry. The SEC alleges that the fraudulent scheme cost 15 students $1.2 The defendants and the CFPB jointly agreed to the dismissal of their respective appeals.
Before his approval, Chopra held one of the Democrat seats on the Federal Trade Commission, often using his position to publicly advocate for higher penalties and enforcement against companies found to have committed wrongdoing. Millions of Americans are now facing eviction and potential foreclosures due to the job losses caused by pandemic.
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