As we predicted at last week’s meeting of the National Council of Higher Education Resources’ Private Student Loan Committee, the CFPB field hearing held last Wednesday in Miami was devoted to student loan affordability. In...more
5/13/2013
- CFPB Private Student Loans Refinancing Student Loans
UniversityThe CFPB has announced that on May 8, 2013, it will hold a field hearing in Miami-Dade County, Florida on student loan borrowers. CFPB Director Richard Cordray will be giving remarks at the event....more
4/22/2013
- Borrowers CFPB Richard Cordray Student Loans
The Consumer Financial Protection Bureau has expanded its public Consumer Complaint Database to include complaints about mortgages, bank deposit products and services, student loans, and other consumer loans (which category...more
4/1/2013
- CFPB Consumer Complaint System Loans Mortgages Student Loans
The Consumer Financial Protection Bureau’s second annual report to Congress on enforcement of the Fair Debt Collection Practices Act (FDCPA) confirms that debt collection will continue to be a major CFPB focus in 2013....more
3/27/2013
- CFPB Debt Collection Dodd-Frank FDCPA FTC
The Consumer Financial Protection Bureau has issued a proposal to supervise nonbank servicers of private and federal student loans who qualify as “larger participants” in the student loan servicing market. Comments on the...more
3/19/2013
- CFPB Dodd-Frank Servicing Policies Student Loans
The CFPB has issued a proposal to supervise nonbank student loan servicers who qualify as “larger participants” in the student loan servicing market. The CFPB already supervises student loan servicing by larger banks. It also...more
3/15/2013
- CFPB Dodd-Frank Loan Servicing Student Loans
A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because its invitation to call a toll-free number could be read by the “least sophisticated debtor” to permit the debt to be effectively disputed by...more
3/14/2013
- Debt Collection Debtors FDCPA Notice Requirements
Perhaps with the Obama administration’s “Making Home Affordable” plan in mind, the CFPB announced last week that it was taking the first step to develop a “student loan affordability plan” by issuing a Notice and Request for...more
2/28/2013
- CFPB Student Loans Students
The Federal Trade Commission has issued a report, The Structure and Practices of the Debt Buying Industry, which the FTC has described as “the first of its kind” empirical study of debt buyers. ...more
2/1/2013
- CFPB Debt Debt Buyers Debt Collection FTC
The Federal Financial Institutions Examination Council (FFIEC) is seeking feedback on proposed guidance to help financial institutions manage the risks of interacting with consumers through social media....more
1/30/2013
- FFIEC Risk Management Social Media
Lawyers whose principal business is mortgage foreclosure or who regularly handle mortgage foreclosures are “debt collectors” subject to the Fair Debt Collection Practices Act, the U.S. Court of Appeals for the Sixth Circuit...more
1/24/2013
- CFPB Debt Collectors FDCPA Foreclosure Mortgages
The CFPB has issued its examination procedures for student lenders. The procedures will be used by the CFPB’s examiners in examinations of large banks that make private student loans (meaning banks with total assets of more...more
12/19/2012
- CFPB Lenders Student Loans
