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July

28
2023
Industry News

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Regarding the Proposal to Strengthen the Resilience of America’s Largest Banks

Today, federal banking regulators are voting to propose a rule regarding the resilience of banks with $100 billion or more in assets. These very large firms are chartered by federal and state governments and enjoy the privilege of federal deposit insurance and other public subsidies.

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July

28
2023
Industry News

Senate Passes FDCPA Amendment for Servicemembers Act in Defense Bill

An amendment to the National Defense Authorization Act (NDAA) to update the Fair Debt Collection for Servicemembers Act passed in the Senate by a vote of 95-2 this week.

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July

28
2023
Industry News

Maine Moves to Transition Debt Collectors and Money Transmitters to NMLS

The Maine Department of Professional and Financial Regulations/Bureau of Consumer Credit Protection (the “Bureau”) recently announced the passage of new regulations for debt collectors, which includes debt buyers, and money transmitters to transition both license types to the Nationwide Multistate Licensing System (“NMLS”) later this year. Both rules became effective on June 25, 2023.

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July

27
2023
Industry News

Federal housing agencies strongly encourage landlords to provide tenants written notice of their rights

Today, the United States Department of Housing and Urban Development, the Federal Housing Finance Agency, and the United States Department of Agriculture are reminding landlords of their obligation to inform tenants and prospective tenants of their rights.

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July

27
2023
Industry News

Senate Approves Reverend Warnock’s Bipartisan Amendment to Protect Servicemembers from Debt Collector Harassment; Provision Now Included in Annual Defense Bill

Washington, D.C. — Today, the U.S. Senate approved a bipartisan amendment offered by U.S. Senator Reverend Raphael Warnock (D-GA) that will provide new financial protections for brave Georgians and Americans in uniform, and included Warnock’s amendment as a provision in the annual defense authorization bill currently being considered on the Senate floor.

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