Account Recovery

OCTOBER 20, 2021

Debt collection, student loan debt relief, payday loans, and government impersonators are just a few of the categories highlighted in a Federal Trade Commission report that analyzes the regulator’s effort at addressing fraud and consumer issues that are affecting communities of color, which was released earlier this week.

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Student loans Student Loans Trade Government 246

Account Recovery

NOVEMBER 10, 2021

The Federal Trade Commission has permanently banned a payment processor from processing debt relief payments after it was accused of facilitating a student loan debt relief scheme while also requiring the company and its owner pay $500,000 that will be used to refund individuals who were duped by the scam.

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Student loans Student Loans Trade Loans 246

Account Recovery

SEPTEMBER 3, 2020

A number of financial services trade organizations, including ACA International, are calling on the Federal Communications Commission to require that telecom companies notify businesses when their calls are being blocked or labeled as spam.

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Student loans Student Loans Healthcare Trade 246

True Accord

MARCH 21, 2023

since 2020, while open trade lines decreased by 7.7% since 2020, while open trade lines decreased by 7.7%

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Student Loans Student loans Loans Construction 86

Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Troutman Sanders

APRIL 14, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. The CFPB’s playbook appears to be the same here.

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Student Loans Student loans Bankruptcy Loans 52

Collection Industry News

NOVEMBER 16, 2021

On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade Commission Act (FTC Act) and the Telemarketing Sales Rule (TSR) ???by The order also contains a $27.5

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Student Loans Student loans Loans Trade 40

Collection Industry News

APRIL 18, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. The CFPB’s playbook appears to be the same here.

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Collection Industry News

JUNE 6, 2024

In its first case under the Impersonation Rule, the Federal Trade Commission has stopped a student loan debt relief scheme that bilked more than $20.3 The FTC charged that the company also falsely claimed that they would take over consumers’ student loans to get them loan forgiveness that did not exist.

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Collection Industry News

MAY 22, 2023

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. and SLA Consulting Services Inc. The case will be decided by the court.

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Credit Corp

NOVEMBER 18, 2020

According to the Federal Trade Commission (FTC), there were more than 650,000 victims of identity theft in 2019, making ID theft the most-reported type of FTC complaint. Somebody with your personal information might try to apply for a loan online. The FTC has also reported fraud instances related to student loans and payday loans.

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Troutman Sanders

JANUARY 20, 2021

On January 18, President-elect Joe Biden announced that he will nominate current Federal Trade Commission (FTC) Commissioner Rohit Chopra to be the next director of the agency. In that role, he became known for his hard-charging style and frequent criticisms of private student lenders. A CFPB veteran, Chopra holds a B.A. In 2011, Sen.

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Credit Corp

SEPTEMBER 13, 2023

Because mortgage loans can span up to 30 years, a lower interest rate can save you a lot of money over time. Student Loans : These loans are used to pay for college-related expenses, such as tuition, room, and board. As such, the repayment of a student loan generally goes through a process called deferment.

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Direct Recovery

JANUARY 31, 2021

There are a wide range of issues to address when it comes to student loan debt, but the one idea that addresses just about everything is that many students aren’t educated on all of their options before (or even after) they sign up to be on the hook for expenses occurred on account of their education.

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Credit Corp

JUNE 1, 2021

Monthly expenses might include student loan payments, car payments, and credit card payments. Pay Student Loan Debt. Department of Education has extended loan payment forbearance, zero percent interest accrual, tax-free employer contribution benefits, and its pause on collections.

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Collection Industry News

MARCH 8, 2021

The new Interim Final Rule issued by the SBA on March 3, 2021, reverses the prior rules by indicating that independent contractors and employers who were otherwise eligible to receive PPP loans may do so regardless of whether the borrower or a 20% or more owner is in default under Federal Student Loans.

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Public Citizen

MAY 18, 2021

The Federal Trade Commission was busy yesterday. Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC ( May 17, 2021). FTC Announces Latest Enforcement Action Halting Deceptive CBD Product Marketing ( May 17, 2021).

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Student loans Student Loans Trade Loans 40

Credit Corp

OCTOBER 6, 2023

of consumer debt, but auto loans are the third largest portion at 9.2% The two largest amounts of debt come from mortgages and student loans. How Much Do Americans Borrow for Car Loans? You can also trade in your vehicle and make a larger down payment. The average American credit card debt is only 5.8%

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Troutman Sanders

MARCH 28, 2023

On March 23, the Federal Trade Commission (FTC) issued a notice of proposed rulemaking with the stated goal to make it easier for consumers to cancel recurring subscriptions and memberships. On March 22, the SEC issued a Wells Notice to Nasdaq-traded cryptocurrency exchange Coinbase, Inc. For more information, click here.

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Public Citizen

FEBRUARY 15, 2021

Last week was a busy one for the Federal Trade Commission. Million in Refunds to People who Lost Money to Student Loan Debt Relief Scam. Among other things:   FTC Acts to Ban Payday Lender From Industry, Forgive Illegal Debt.   FTC Sends More than $1.7

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True Accord

AUGUST 11, 2022

New York Federal Reserve , between the national student loan debt topping $1.6 Providing consistent outreach—especially in early delinquency—will give customers more opportunities to engage, understand, and resolve debt. Debt levels are on the rise again: according to the?

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Acquisition Debt Recovery Education Student Loans 66

National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 Unfortunately, this means student loans (unless you have access to scholarships, independent wealth, grants, or other resources).

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Debt collector Student loans Student Loans Collection Agencies 40

Troutman Sanders

FEBRUARY 23, 2022

Federal Activities: On February 18, the Consumer Financial Protection Bureau (CFPB) released a bulletin, detailing student loan servicers’ obligation to halt unlawful conduct on borrowers’ eligibility and benefits under the Public Service Loan Forgiveness Waiver. Student loan debt payments are scheduled to resume May 1.

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Financial services Student Loans Student loans Government 52

Credit Corp

MARCH 23, 2021

There are many different types of installment loans that are reported on credit reports. These include auto loans, mortgage loans, student loans, credit builder loans, and personal loans. It signifies to others that the account is a fixed account with a fixed payment over a fixed period of time.

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Credit Corp

JUNE 17, 2021

Include the maximum amount you can afford for rent, and take utility bills, student loan payments and other regular expenses into account. Forgetting About Student Loans. Most student loans give borrowers a six-month grace period after graduation—but eventually, you’ll need to start making payments.

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Student Loans Student loans Loans Trade 59

Collection Industry News

SEPTEMBER 27, 2022

BUSINESS WIRE)–An annual survey from Discover ® Student Loans revealed that 58% of parents with college-bound students didn’t plan on applying for federal aid, but now have changed their minds. Parents bear a lot of the stress of paying for college, but so do students. Sheetal Shah, September 22, 2022. RIVERWOODS, Ill.–(BUSINESS

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Fraser

OCTOBER 21, 2022

Public university students who are selected will receive up to $5,500 a year for five years, independent university students will be able to get up to $4,000 a year for five years, private trade school students $2,000 a year for two years and community college students $2,750 a year for up to three years.

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Student Loans Student loans Education Trade 59

Collection Industry News

JUNE 29, 2024

Total household debt includes mortgages, home equity lines of credit (HELOCs), student loans, auto loans, other, and credit cards.1 Student loan debt decreased by $6 billion to $1.60 7 Student loan debt decreased in the first quarter by a small amount, remaining around $1.6

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Katabat

OCTOBER 6, 2021

Chopra appears to be well prepared for the post, having served as a Commissioner on the Federal Trade Commission, and before that serving as the CFPB’s Assistant Director and separately as the CFPB’s Student Loan Ombudsman.

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Katabat

OCTOBER 6, 2021

Chopra appears to be well prepared for the post, having served as a Commissioner on the Federal Trade Commission, and before that serving as the CFPB’s Assistant Director and separately as the CFPB’s Student Loan Ombudsman.

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Student Loans Student loans Loans Government 52

Troutman Sanders

JULY 27, 2020

On July 22, 2020, the CFPB issued tips in a blog post directed to co-signors of private student loan debt during the COVID-19 emergency. The CARES Act offers relief for those with federal student loans. Many private student loan lenders are providing options for reducing or suspending payments as well.

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Financial services Student Loans Student loans Garnishment 52

Troutman Sanders

AUGUST 9, 2021

On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022. Income-share agreements are a type of student loan, where the borrower receives a loan and then pays a percentage of his/her income after graduation.

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Financial services Student Loans Student loans Foreclosure 52

Credit Corp

APRIL 19, 2024

Choosing this route can also help you avoid some of the most frequent student loan mistakes , such as borrowing more money than you need and slowing down your financial growth. Avoid student loans to the best of your ability. Consider attending a trade school or a technical college.

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Troutman Sanders

JUNE 21, 2023

Currently, only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are available for trade on EDX. Securities and Exchange Commission (SEC), requesting approval to offer spot Bitcoin exchange-traded fund (ETF) called “iShares Bitcoin Trust.” Department of Education and falsely promising student loan debt relief.

Financial services 52

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Troutman Sanders

OCTOBER 22, 2021

The Consumer Bankers Association (CBA), a trade group of retail financial institutions, recently sent a letter to the Consumer Financial Protection Bureau (CFPB) director, requesting increased supervision of financial technology companies (fintechs).

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Troutman Sanders

OCTOBER 16, 2023

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.

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Financial services Student Loans Student loans Credit Unions 52

Troutman Sanders

AUGUST 24, 2021

Privacy and Cybersecurity Activities: On August 20, the Federal Trade Commission (FTC) warned consumers that they should not purchase fake COVID-19 verification tools or products from scammers, such as “fake vaccination cards, certificates, and test results.” 1, 2020 through March 31, 2021, totaling $64 million in reported losses.”

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