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Specialty Group: Financial Institutions and Markets

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Collection Fees Based on Percentage of Debt Violates FDCPA

Contact: Heather Morris; Spencer Fane Britt & Browne LLP (Missouri, USA) For convenience, when collecting a debt, lenders may be tempted to simply add a percentage of the outstanding balance as the collection costs ...

Dunning Letters as to Time-Barred Debt Can Violate FDCPA

Contact: von Briesen & Roper, s.c. (Wisconsin, USA) The United States Court of Appeals for the Seventh Circuit (Wisconsin, Illinois, Indiana) has recently ruled that collection or "dunning" letters sent after the expir ...

Managed Investment Schemes: Hedge Fund Disclosures

Contact: ESV Chartered Accountants (New South Wales, Australia - TIAG) Where a Responsible Entity (RE) for a hedge fund or fund of hedge fund offers product to retail investors in Australia, ASIC has released RG 240 (e ...

SBA Announces 10-Tab Format Required for All Loan Applications Sent to LGPC after March 1, 2014

Contact: Lerch, Early & Brewer (Maryland, USA) SBA Notice 5000-1304 issued on January 23, 2014 notifies lenders that all applications submitted to the LGPC for loan origination must be submitted in the 10-Tab format. P ...

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