Consumer Protection Education

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GAO report highlights gap in SCRA oversight for private student loans; encourages CFPB to seek additional statutory authority

On November 18, the GAO released a report examining issues related to implementation of the Servicemembers Civil Relief Act (SCRA) interest rate cap for student loans. The Senate Committee on Homeland Security and...more

Vermont AG Settles Lawsuit with California Student Loan Debt Consolidation Company

On November 18, 2016, the Attorney General for the State of Vermont (Vermont AG) announced that it had entered into a settlement with a California student loan debt consolidation company related to the company’s business of...more

California AG Guidance for the Ed Tech Industry: 6 Recommendations to Protect Student Data Privacy

Developers and operators of educational technology services should take note. Just before the election, California Attorney General Kamala Harris provided a document laying out guidance for those providing education...more

[Webinar] The New Borrower Defense Framework - November 29th, 12:00pm CT

In this first webinar of the "Decoding the FINAL Borrower Defense Rule" series, we’ll closely examine the new borrower defense framework, with particular attention to what constitutes a valid “claim,” the risk of...more

CFPB issues Fall 2016 Supervisory Highlights

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

CFPB Focuses on Servicing in Update to Student Loan Examination Procedures

On Monday the CFPB released updated examination procedures for student loans.  This update revises and expands on a previous update that was released in December 2013 in conjunction with the CFPB’s “larger participants” rule...more

CFPB Student Loan Ombudsman’s fifth annual report highlights complaints about transition from default to income-driven repayment...

The CFPB has released its fifth Annual report of the CFPB Student Loan Ombudsman discussing complaints received by the CFPB about private and federal student loans and the lessons drawn by the Ombudsman from those complaints....more

Trump University Files Motion to Compel Depositions of Allegedly Defrauded Consumers

On September 16, 2016, Trump University filed a motion to compel the New York State Attorney General to produce the names of the consumers who were allegedly defrauded by Trump University and to produce those witnesses to...more

CFPB: The Quarterly Review, Q3 2016

White & Case’s Financial Institutions Advisory (FIA) practice is pleased to share its most recent quarterly newsletter on the Consumer Financial Protection Bureau’s ("CFPB” or "Bureau”) oversight of the consumer financial...more

CFPB Consumer Advisory Board to meet on Oct. 27

The CFPB has published a notice in the Federal Register announcing that a meeting of its Consumer Advisory Board (CAB) will be held on October 27, 2016. The notice indicates that the CAB will discuss student loan...more

California Enacts New Licensing Requirements for Student Loan Servicers

Student loan servicers located in California servicing loans made to residents of any state and those located elsewhere servicing loans made to California residents will be subject to a new licensing requirement created by...more

CFPB discusses handling of student loan partial prepayments by servicers

In a new blog post by Student Loan Ombudsman Seth Frotman, the CFPB discusses its concerns regarding how student loan servicers may be responding to borrowers seeking to make partial prepayments on their student loans and...more

CFPB September 2016 complaint report highlights money transfer complaints, complaints from Pennsylvania consumers

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area.  The CFPB began taking money transfer...more

The CFPB's Latest: Student Loans and Fix-It Forms

The Consumer Financial Protection Bureau has taken two actions that are worthy of note. First, the Student Loan Ombudsman released his mid-year report, in which he focused his attention on complaints about servicer activity...more

CFPB highlights impact of student debt on communities of color

In a new blog post, the CFPB states that recent research “underscores the disproportionate impact of student debt on communities of color.” According to the CFPB, federal government data shows that over 90 percent of...more

CFPB Issues Consent Order Against Education Company For Illegal Student Lending Practices

On September 12, 2016, the Consumer Financial Protection Bureau (“CFPB”) announced the issuance of a consent order with a for-profit college chain that allegedly deceived its students into taking out loans that were more...more

CFPB enters into consent order with for-profit college owner

The CFPB announced that it has entered into a consent order with Bridgepoint Education, Inc., the owner of two for-profit colleges, to settle charges that the company’s representatives engaged in deceptive acts or practices...more

CFPB Midyear Update Signals 3 Steps Student Loan Servicers Should Consider Taking Now

As regulatory pressure on student loan servicing continues to increase, servicers are paying close attention to the steady stream of news and publications issuing from the CFPB and the Department of Education. The most recent...more

Student loan complaint update highlights IDR plan application issues

The CFPB’s Student Loan Ombudsman has released a new “Mid-year update on student loan complaints” that highlights issues related to income-driven repayment plan (IDR) application issues. The update covers complaints...more

[Webinar] Proposed Elimination of Arbitration Clauses (Proposed Borrower Defense Rule Series) - September 7th, 12:00pm CST

The third webinar in our series will examine the proposed elimination of arbitration clauses in agreements between students and institutions. We will discuss the particulars of the proposal, to include the potential impact...more

FCC Allows for Greater Use of Robo-Calls By School Districts

The Federal Communication Commission (FCC) has issued a ruling that clarifies the application of the Telecommunications Consumer Protection Act (TCPA) to schools to allow automated calls and texts to parents in the case of...more

FCC Holds Educators and Utilities Making Certain Robo Calls Do Not Violate The TCPA

On August 4, 2016, the FCC released a Declaratory Ruling confirming that schools and utilities making robo calls do not violate the TCPA under certain circumstances. The Ruling, addressed Petitions filed by Blackboard, Inc....more

FCC Issues Two Key TCPA Orders

In the past two weeks, the Federal Communications Commission (FCC) issued two important orders that modified and clarified the agency’s rules for enforcement of the Telephone Consumer Protection Act (TCPA). Both orders are...more

FCC Issues TCPA Compliance Ruling for School-Related Calls

Last Thursday, the Federal Communications Commission (the “FCC” or “Commission”) issued a Declaratory Ruling addressing certain Telephone Consumer Protection Act (“TCPA”) compliance concerns raised by educational technology...more

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