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Maine Enacts Law Protecting Victims of Economic Abuse

November 7, 2019 By Anoush Garakani

A&B Abstract:  An Act to Provide Relief to Survivors of Economic Abuse (the “Economic Abuse Law”), effective September 19, 2019, is aimed at preventing “economic abuse” by providing certain protections to victims of such abuse, in part, by imposing additional obligations on debt collectors and consumer reporting agencies (“CRAs”).  Debt collectors and CRAs should carefully review […]

Filed Under: Consumer Loan, Debt Collection, Fair Credit Reporting Act (FCRA), State Law Tagged With: #debtcollection, Credit Reporting, Economic Abuse, Maine, MFCRA, MFDCPA

Will Maine begin to regulate passive, secondary market investors in student loan debt?

July 17, 2019 By Lisa Lanham

A&B Abstract:  Maine’s New Student Loan Bill of Rights requires the licensing of any person acting as “directly or indirectly” as a student loan servicer.  What might that mean for passive, secondary market investors in student loan debt? Background On June 20, 2019, Maine Governor Janet Mills signed into law LD 995, Maine’s “Student Loan […]

Filed Under: Licensing, State Law, Student Loans Tagged With: Maine, passive investors, student loan servicing

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