The ramifications of uneven increases to fees in chapter 11 bankruptcies continue to ripple through federal courts. As we discussed previously, Congress enacted legislation in 2017 that temporarily increased U.S. Trustee fees chapter 11 debtors had to pay in virtually every district in the U.S.
In April, we released a report on the credit health of student loan borrowers during the pandemic and identified the types of borrowers who may struggle when the federal payment suspension ends. Since that report was released, inflation has risen and delinquencies and balances have increased for consumers across credit products. These developments may signal or contribute to potential payment difficulties for borrowers going forward.
For companies that maintain consumer finance licenses on the Nationwide Multistate Licensing System and Registry (NMLS), it’s time to request renewal of your licenses. The 2023 NMLS renewal season opens on November 1, 2022. Licensees can prepare by keeping the following in mind:
The U.S. Department of Education (DOE) released final regulations on Monday that streamline and improve the rules for major targeted debt relief programs, according to a press release from the department.
A recent Fifth Circuit decision has put certain lenders on notice that a popular method of collecting lump sum, interest-like payments won’t help them if their borrower is an insolvent company going through bankruptcy.
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