Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools
Addressing Servicer Liquidity Concerns, FHFA Announces 4-Month Advance Obligation Limit for Mortgage Loans in COVID-19 Forbearance
On April 21, the Federal Housing Finance Agency (“FHFA”) announced limits on servicer obligations to advance scheduled monthly principal and interest payments for single-family mortgage loans backed by Fannie Mae and Freddie Mac (the “Enterprises”). Once a servicer has advanced four months of missed payments on a loan, it will have
State AGs to CRAs: If CFPB Won’t Enforce CARES Act Requirements, We Will
Earlier this month, twenty-one state attorneys general and the AGs for Washington, D.C. and Puerto Rico sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the CFPB to withdraw its non-binding guidance issued on April 1, 2020 with respect to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The signatory AGs
Troutman Sanders Weekly Consumer Financial Services COVID-19 Newsletter – April 27, 2020
Like most industries today, consumer finance services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19-related news and developments, recommendations from leading health organizations, and tools
Troutman Sanders Weekly Consumer Financial Services COVID-19 Newsletter – April 13, 2020
Like most industries today, consumer finance services businesses are being significantly impacted COVID-19. Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use
Now That’s a Circuit Split: 2nd Circuit Cozies up to the 9th Circuit, and Disagrees With the 7th and 11th Circuits, on the Definition of Autodialer Under the TCPA
On April 7, 2020, the Second Circuit added more uncertainty to the Telephone Consumer Protection Act (“TCPA”) with its decision on the meaning of an automatic telephone dialing system (“ATDS”) in Duran v. La Boom Disco, Inc. Breaking from recent Seventh and Eleventh Circuit decisions, which followed the statutory language in requiring random and
Complimentary Webinar Invitation: Credit Reporting and COVID-19: Guidance for Consumer Financial Service Companies Reporting Consumer Credit During the Pandemic
Please join Troutman Sanders attorneys, David Anthony, David Gettings, Cindy Hanson, Alan Wingfield, and John Lynch for a Complimentary Webinar, “Credit Reporting and COVID-19: Guidance for Consumer Financial Service Companies Reporting Consumer Credit During the Pandemic” on Thursday, April 9, 2020 from 4:00 – 5:00 p.m. ET.
The coronavirus (COVID-19) is
Troutman Sanders Weekly Consumer Financial Services COVID-19 Newsletter
Like most industries today, consumer finance services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19-related news and developments, recommendations from leading health organizations, and tools
CARES Act Offers Six Months of Debt Relief to Student Loan Borrowers
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), a $2 trillion stimulus bill enacted in response to the ongoing coronavirus (“COVID-19”) pandemic, contains numerous provisions impacting federal student loans for the next six months. Considering how the amount of outstanding student loan debt is in excess of $1.5 billion, and much of that
Troutman Sanders Weekly Consumer Financial Services COVID-19 Newsletter – March 30, 2020
Like most industries today, consumer finance services businesses are being significantly impacted by the novel coronavirus (“COVID-19”). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19-related news and developments, recommendations from leading health organizations, and tools