October 28, 2022 - An 11th U.S. Circuit Court of Appeals case has left the debt collection world on pins and needles for a year wondering if a ministerial part of their business practice was suddenly a violation of the Fair Debt Collection Practices Act (FDCPA). For years, it was common practice to share consumer debt information with third-party mail vendors to send collection letters, but one ruling threw that all into chaos.
Noting the rapidly changing banking landscape, the Office of the Comptroller of the Currency (OCC) has announced it will establish an Office of Financial Technology next year.
Today, the Advisory Committee will be discussing the results of the FDIC’s Survey of Unbanked and Underbanked Households, conducted in partnership with the U.S. Census Bureau. The survey highlights the roles of unexpected and high fees, privacy concerns, and other impediments that contribute to Americans staying away from banking with an insured bank or credit union.
The U.S. Court of Appeals for the Eleventh Circuit recently held that a bank did not perfect its security interest in a business debtor’s assets because the two UCC-1 Financing Statements filed with the Florida Secured Transaction Registry that failed to correctly name the debtor were “seriously misleading” under Florida Statute Section 679.5061(2), as the Registry does not implement a “standard search logic” necessary to trigger the safe harbor exception set forth in Florida Statute Section 679.5061(3).
NEW YORK – New York Attorney General Letitia James today reminded public servants to apply for the Limited Waiver Public Service Loan Forgiveness (PSLF) Program ahead of the October 31st deadline. The PSLF program offers forgiveness of any remaining federal student loan debt after a borrower makes 120 qualifying payments while working full-time for a government or qualifying nonprofit.
.jpg)
.jpg)