On May 14, 2020, the Consumer Financial Protection Bureau (“CFPB”) filed a proposed stipulated final judgment and order (the “Order”) against Chou Team Realty, LLC (“Monster Loans”) and several related individuals and entities to resolve alleged violations of the Fair … Continue reading →
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Borrowers who graduated with bachelor’s degrees in 2018 had an average of about $29,000 in student loans, according to the College Board. Photo: Jon Krause May 26, 2020 4:36 pm ET It isn’t surprising that college debt is a hot-button … Continue reading →
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The Texas Supreme Court is giving the green light for collections agencies to resume debt collections and account garnishments, and landlords to move forward with evictions proceedings, starting next week. Eviction hearings can begin as soon as May 19, and … Continue reading →
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Through an amendment to Assembly Bill 2501, California Assembly Banking and Finance Chair Monique Limon has introduced sweeping forbearance legislation that would impact single-family and multifamily mortgages, auto-secured financing, Property Assessed Clean Energy (PACE) financing, and payday loans. Named the … Continue reading →
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Comment period extension. Yesterday, the CFPB announced a second 60-day extension of the comment period for its supplemental proposal that would require debt collectors to make specified disclosures when collecting time-barred debts. The CFPB previously extended the initial May 4 … Continue reading →
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WASHINGTON — Amid mounting coronavirus deaths, a faltering economy and slipping poll numbers, President Trump faces a fresh dilemma with possible consequences for his re-election: Should he stand by his education secretary’s efforts to roll back loan forgiveness for students … Continue reading →
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Cars waited in line for handouts of surplus potatoes and other free items in Kennewick, Wash., on May 8. Photo: David Ryder/Bloomberg News By AnnaMaria Andriotis Close AnnaMaria Andriotis Biography @AAndriotis [email protected] May 20, 2020 10:36 am ET Millions of … Continue reading →
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The Consumer Financial Protection Bureau extended the comment period on a proposal to clarify rules for collecting stale debts for a second time. The CFPB said that it will accept comments on a proposal for time-barred until Aug. 4 because … Continue reading →
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In Stewart v. Credit Control, LLC, 2020 U.S. Dist. LEXIS 81332, the Northern District of Illinois dismissed a pro se claim against a debt collector. The plaintiff claimed that the debt collector, who pulled the plaintiff’s credit information to facilitate collection of a … Continue reading →
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The Consumer Financial Protection Bureau has filed a proposed settlement to resolve allegations that a California mortgage lender, along with several related individuals and companies, unlawfully obtained credit reports and charged customers millions of dollars in illegal fees. In January, … Continue reading →
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