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The importance of embracing business performance improvement
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Firm hired to collect unpaid land tax not a debt collector - The Royal Gazette | Bermuda News, Business, Sports, Events, & Community
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Federal Activities:
On May 7, the Federal Reserve Board invited public comment on proposed changes to Regulation II (debit card interchange fees and routing) to clarify that debit card issuers should enable and allow merchants to choose from at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. Additionally, the proposed revisions would clarify the responsibility of the debit card issuer. For more information, click
On May 6, the Federal Housing Administration announced new amendments to nonborrowing spouse provisions for the Home Equity Conversion Mortgage (HECM) program, implementing additional protections for spouses involved in a government-sponsored reverse mortgage. The agency details that while HECM mortgagees can begin using the new procedures immediately for all new HECMs, those electing not to do so must implement the new procedures by September 3 or 120 days after the publication of the new mortgagee letter. For more
Heinrich, Luján, Wyden Introduce Bill To End Paycheck Protection Program Abuse By Predatory Debt Collectors
U.S. SENATE News:
WASHINGTON, D.C. U.S. Senators Martin Heinrich (D-N.M.), Ben Ray Luján (D-N.M.) and Ron Wyden (D-Wis.) introduced legislation to prevent predatory debt collectors from accessing funding through the Paycheck Protection Program (PPP).
The Ceasing Underserved Relief Benefits for Debt Collectors Act – or CURB Debt Collectors Act–would prevent debt collectors that have committed violations of the Fair Debt Collection Practices Act from accessing PPP forgivable loans. Debt collectors, including firms that are known to have violated consumers’ rights, have received millions of dollars in PPP funding.
Ron Raether, who discussed the use of COVID-19 vaccination passports. Raether shared that, “[t]here’s going to be different [vaccine] verification standards[;] there’s too much economic pressure to jump start all of these struggling economies.” It appears the Biden administration would agree with the statement;
Reuters
reported the administration is discussing the possibility of providing airlines guidance for the use of vaccine passports in hopes that it will “ramp up international air travel safely.” While the Biden administration previously stated it would not require businesses to use COVID-19 health applications, it will nonetheless publish usage guidance “that provides important answers to questions that Americans have, in particular around concerns about privacy, security, or discrimination, soon.” However, others don’t agree.
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