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Blog Posts in August, 2015

Forster and Garbus Settle with New York Attorney General

A settlement has been reached in a case brought by the New York Attorney General against Forster & Garbus, LLP, a big New York debt collection law firm, to prevent the collection of payday loans. ...
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Madden v. Midland Funding, LLC

In the recent case Madden v. Midland Funding, LLC, the Second Circuit held that state usury laws were not necessarily preempted “where a loan originated by a national bank is subsequently sold ...
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National Collegiate Student Loan Trust Lawsuits

National Collegiate Student Loan Trust (NCSLT), a frequent student loan lender is attempting to collect student loan debt by filing thousands of lawsuits against debtors. However, there is one big ...
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Federal Forgiveness: Relief and Repayment of Grad School Loans

With graduate school loans accounting for 40% of all student debt, a major focus has been put on the existence of federal programs that allow students to borrow large amounts and then to have a ...
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NYC Rule for Debt Collection Law Firms

New York City adopted Local Law 15 in 2009. Under this law, law firms that also act as debt collectors were added to the list of entities regulated as debt collectors. However, law firms that collect ...
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Student Financial Aid Services, Inc. to Pay $5.2 million for Illegal Billing Schemes

Many consumers require assistance and guidance while navigating the confusing process of seeking federal assistance and student loans. In a recent action, the Consumer Financial Protection Bureau ...
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Citibank Fined $700 Million for Illegal Credit Card Practices

The Consumer Financial Protection Bureau (CFPB) has ordered Citibank and its subsidiaries (Citi) to provide roughly $700 million in relief to consumers harmed by illegal practices related to credit ...
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Discover Bank to Pay $18.5 Million for Illegal Student Loan Practices

In the midst of the Consumer Financial Protection Bureau’s push to ensure adequate student loan servicing, the CFPB has ordered Discover Bank and its affiliates to pay a total of $18.5 million ...
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Debt Settlement v. Chapter 7 Bankruptcy

We often receive calls from clients who have a significant amount of debt overall but it is split up with many various creditors and the debts are fairly small. These clients are usually interested in ...
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Credigy Receivables Default Judgment Vacated

Judgments obtained in the wrong venue are unfortunately common these days. Debt buyers and the law firms who represent them would rather not spend the extra time and money to properly serve a consumer ...
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