Topic: Collections
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DFI: Frequently Asked Questions – Debt Collection
This section covers frequently asked questions that creditors have about debt collection practices: What if the consumer disputes the debt? Can I threaten to sue the consumer? What is considered […]
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B066 Self-help Repossession of Motor Vehicles
This release describes Wisconsin Consumer Act provisions that allow credit unions to repossess motor vehicles from consumers who are in default, without necessarily having to get a judgment first.
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B058 HUD’s Delinquent Homeowner Notice Requirement
This release applies to all credit unions, state and federal, which hold residential mortgage loans. The Department of Housing and Urban Development (HUD) requires credit unions to send two notices […]
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B050 Federal Limitation on Exercise of Due-on-Sale Clauses
This release describes federal restrictions on the enforceability of due-on-sale clauses.
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B045 Disposition of Collateral After Default Under § 409.610, Wis. Stats.
This release applies to all credit unions, state and federal. Section 409.610 gives credit unions a great deal of flexibility in disposing of collateral. The purpose of this flexibility is […]
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B037 Simple Interest Deferral and Extension Agreements
This release describes the use of deferral agreements on simple interest loans.
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B031 Right to Cure Default
This release explains the credit union’s responsibility to provide proper notice of the member’s 15-day right to cure default before taking certain collection actions on Wisconsin Consumer Act (WCA) loans. […]
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B025 Voluntary Surrender of Collateral; Right to Redeem
This release describes the steps the credit union must take regarding a voluntary surrender of collateral securing a Wisconsin Consumer Act Loan.
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America’s Credit Unions: e-Guide – Fair Debt Collection Practices Act
This links to America’s Credit Unions’ e-Guide section on Fair Debt Collection Practices Act. (Note: Requires America’s Credit Unions login.)
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CFPB: Memorandum on Ensuring Equal Treatment for Same-Sex Married Couples (June 25, 2014)
The CFPB issues this memorandum to its staff, saying the Bureau will regard a person who is married under the laws of any jurisdiction to be married nationwide for purposes […]