“Those forbearance periods shall continue to be extended upon request of the consumer up to a cumulative total of 270 days.”
Sacramento, CA – 5 June, 2020 – Before passing the California State Assembly Appropriations Committee on a 12-5 vote on Wednesday, AB 2501, titled “the COVID-19: homeowner, tenant, and consumer relief Law of 2020” a number of revisions were made. Unfortunately, none of these were a softening of the damaging impact that the bill poses to the future of the lending, credit, repossessions and auto sales industries in the state of California.
Revisions Posted to California’s “Repossession and Collections Moratorium Bill” – Credit Union Collections – Foreclosure – Repossess – Repossession
More Stories
Happy Birthday CUCollector! Seventeen Years… Where Did the Time Go?
One Face. Sixteen Identities. $476,000 in Fraudulent Auto Loans
Did the CFPB Accidentally Create the Credit Washing Industry?
The New Face of Auto Loan Fraud: When AI Becomes the Borrower’s Co-Signer
When a Loan Funds a Scam: Who Bears the Loss?
Stop Wrongful Repossessions Before They Start