November 11, 2022
American Banker
In a new article for American Banker, Stroock Partner Allen Denson weighs in on new post-election measures in Arizona that approve lower interest rates on medical debt and increases borrower protections from debt collectors.
“Banks that do business in Arizona will have to weigh the updated rules when they price a loan and account for its default risk. Lenders will also have to adjust their procedures to ensure they're complying with the state's new rules, noting that regulators are increasingly monitoring banks' compliance with different states' wage garnishment rules.”
Read the full article here.
November 11, 2022
American Banker
In a new article for American Banker, Stroock Partner Allen Denson weighs in on new post-election measures in Arizona that approve lower interest rates on medical debt and increases borrower protections from debt collectors.
“Banks that do business in Arizona will have to weigh the updated rules when they price a loan and account for its default risk. Lenders will also have to adjust their procedures to ensure they're complying with the state's new rules, noting that regulators are increasingly monitoring banks' compliance with different states' wage garnishment rules.”
Read the full article here.
