John L. Culhane, Jr.

John L. Culhane, Jr.

Ballard Spahr LLP

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Department of Education proposal on campus financial products expected in July

We recently commented that financial institutions offering financial products to college students, including debit or prepaid cards, under agreements with colleges should be planning now for the possible advent of new...more

6/24/2014 - Colleges Debit Cards Disclosure Requirements DOE Financial Products Prepaid Payment Products Students Title IV Universities

For-profit education company sued by CFPB seeks dismissal of complaint

ITT Educational Services, the defendant in the CFPB’s first enforcement action against a for-profit education company, has filed a motion seeking dismissal of the CFPB’s complaint. Filed this past February in an Indiana...more

5/1/2014 - CFPB Colleges Dodd-Frank Enforcement Actions Itt Educational Services Student Loans Students UDAAP

Scrutiny of campus financial products grows

The U.S. Government Accountability Office (GAO) has joined the CFPB’s call for more transparency in the area of campus financial products. Last week, the GAO issued a report on college debit cards in which the GAO recommended...more

2/18/2014 - Colleges Credit Cards Debit Cards GAO Investigations Prepaid Payment Products Universities

CFPB findings on campus banking products portend new limitations

Findings on campus banking products released this past Monday by the CFPB in conjunction with a Banking on Campus Forum held in Washington, D.C. appear to be a harbinger of new limitations on the marketing of these products....more

10/2/2013 - Banks CFPB Colleges Marketing Students Universities

Is the CFPB now the BMOC?

Last week, the CFPB muscled its way on campus, announcing that it will be looking at the impact of financial products marketed to students through their colleges and universities....more

2/4/2013 - CFPB Colleges Debit Cards Higher Education Act Students Universities

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