The California Department of Financial Protection and Innovation (DFPI) recently issued a Notice of Modification to Proposed Regulations and published the newly modified proposed regulations to amend its student loan...more
In a recently issued ruling, the Federal Communications Commission (FCC) declared that “ringless voicemails” are “calls” subject to the requirements of the Telephone Consumer Protection Act (TCPA). Ringless voicemail...more
With historically low unemployment rates, attracting and retaining top talent can be a challenge for employers. To distinguish themselves from the pack, many companies are considering tuition assistance programs to both...more
The Consumer Financial Protection Bureau’s (CFPB) focus on ensuring loan servicers’ compliance with the implementation of the Public Service Loan Forgiveness (PSLF) program continues. On March 30, 2022, the CFPB entered into...more
The Federal Communications Commission (FCC) is considering opening another front in robocalling enforcement by declaring “ringless voicemails” subject to consumer consent and other requirements under the Telephone Consumer...more
On the heels of CFPB Acting Director Dave Uejio’s recently released statement to agency staff members, the Bureau again signaled that it is making progress toward issuing a Notice of Proposed Rulemaking (NPRM) enacting...more
In a landmark decision released this morning, the U.S. Supreme Court finally answered the question that has been at the heart of Telephone Consumer Protection Act (TCPA) litigation for decades – what constitutes an...more
The Centers for Disease Control (CDC) recently issued a sweeping moratorium on most evictions through the end of 2020 as a means to stop the spread of COVID-19, which will go into effect on September 4, 2020. According to...more
9/8/2020
/ Administrative Procedure Act ,
Centers for Disease Control and Prevention (CDC) ,
Commerce Clause ,
Contracts Clause ,
Coronavirus/COVID-19 ,
Due Process ,
Eviction ,
Foreclosure ,
Landlords ,
Moratorium ,
Property Owners ,
Public Health Service Act ,
Takings Clause ,
Tenants
The CFPB recently issued its “Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic,” addressing 10 credit reporting issues. While the FAQs provide some much-needed clarity for furnishers of information and...more
Among the most significant aspects of the CARES Act is the $660 billion small business forgivable loan program known as the Paycheck Protection Program (PPP), and it was perhaps inevitable that the administration of the...more
Several states have recently ramped up their regulation of the student lending industry by passing laws requiring student loan servicers to be licensed in the state in order to operate there. Many of these state licensing...more
As we’ve been tracking for over a year now, courts across the country have addressed the significant question of whether the federal laws governing federally owned or guaranteed student loans preempt state laws placing...more
4/14/2020
/ Debt Collection ,
Department of Education ,
Disclosure Requirements ,
Federal Student Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Private Student Loans ,
Public Service Loan Forgiveness program (PSLF program) ,
State Regulators ,
Student Loan Servicers Regulation ,
Student Loans
The CFPB’s April 1, 2020, statement regarding credit reporting for loans affected by COVID-19 announced a “flexible supervisory and enforcement approach during this pandemic.” In addition to guidance regarding furnishing...more
We’ve been tracking regulatory developments related to credit reporting for loans where borrowers have been affected by the coronavirus outbreak. On April 1, the CFPB issued a statement about credit reporting for loans...more
Like the country and economy at large, the COVID-19 pandemic is significantly impacting secondary education and the student lending industry. In response to the pandemic, colleges across the country closed their campuses,...more
We previously blogged about the push among lawmakers and regulators to encourage or force financial institutions to cease providing adverse credit reporting on consumer loans where the delinquency or default may be related to...more
Although the major federal banking and consumer lending regulatory industries have issued a joint statement indicating “that financial institutions should work constructively with borrowers and other customers in” areas...more
On January 27, 2020, a federal court of appeals issued a significant decision interpreting the Telephone Consumer Protection Act (commonly referred to as the “TCPA”) in a way that limits the expansive potential liability...more
2/5/2020
/ Appeals ,
ATDS ,
Auto-Dialed Calls ,
Consumer Privacy Rights ,
Debt Collection ,
FCC ,
Prior Express Consent ,
Robocalling ,
Split of Authority ,
Statutory Interpretation ,
Student Loans ,
TCPA ,
Telecommunications
The National Credit Union Administration’s (NCUA) new appraisal threshold rule for commercial real estate loans will go into effect on October 22, 2019. Under the NCUA’s new appraisal rule, credit unions will not be required...more
The Seventh Circuit Court of Appeals struck a blow to student loan servicers’ arguments that certain state law claims brought by borrowers are preempted under the Higher Education Act (HEA). In a lengthy opinion issued on...more
7/2/2019
/ Appeals ,
Disclosure Requirements ,
Federal Student Loans ,
Financial Services Industry ,
Government-Guaranteed Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Reversal ,
State Law Claims ,
Student Loans
A recent decision by a panel of the United States Court of Appeals for the Fourth Circuit interpreting the Telephone Consumer Protection Act (TCPA) has significant – and possibly costly – implications for loan servicers and...more
5/1/2019
/ Appeals ,
Auto-Dialed Calls ,
Debt Collection ,
Exemptions ,
FCC ,
First Amendment ,
Government-Guaranteed Loans ,
Loan Servicer ,
Mobile Devices ,
Summary Judgment ,
TCPA
In courts across the country, servicers are facing off against states and borrowers over the extent to which federal laws preempt state regulation of federal student loan servicers. Numerous states have stepped up their...more
In another move reflecting the Consumer Financial Protection Bureau’s (CFPB) shifting focus on student lending, the CFPB’s Student Loan Ombudsman announced his resignation on August 27, 2018. In his resignation letter, Seth...more
On March 16, 2018, the D.C. Circuit Court of Appeals issued its long-awaited Telephone Consumer Protection Act (TCPA) opinion in ACA International v. Federal Communications Commission, a consolidated appeal of the FCC’s July...more
3/21/2018
/ Appeals ,
Arbitrary and Capricious ,
Automated Systems ,
Cell Phones ,
Consent ,
FCC ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Reassigned Phone Numbers ,
Revocation ,
Robocalling ,
Safe Harbors ,
TCPA ,
Telecommunications ,
Undue Burden
In one of his first official actions, newly elected President Donald Trump tapped Ajit Pai as the new chairman of the Federal Communications Commission (FCC), replacing outgoing chairman Tom Wheeler. Pai is a sharp critic of...more