Education Law, Consumer Protection, Administrative Law

Private Student Lenders and Servicers Face CFPB Scrutiny

by Benjamin Saul | BuckleySandler LLP on 5/20/2013

Regulators and congressional leaders have identified similarities between the lending practices that led to the subprime mortgage crisis and an escalating default rate in the burgeoning level of student loan debt. Rather...more

CFPB proposes more information collections

by Barbara S. Mishkin | Ballard Spahr LLP on 1/17/2013

Earlier this week, the CFPB published in the Federal Register a request for comments on its plans to submit a request to the Office of Management and Budget for generic clearance of an information collection to assist the...more

CFPB Examination Procedures for Student Lenders

by Jonathan L. Pompan | Venable LLP on 1/7/2013

The Consumer Financial Protection Bureau (“CFPB”) has released procedures it will use in examining student lenders. The Student Lending Examination Procedures, available here, set forth the CFPB’s examination objectives and...more

CFPB Releases Student Lending Examination Procedures

by BuckleySandler LLP on 12/24/2012

On December 17, the CFPB released its Student Lending Examination Procedures, which are an extension of the CFPB’s General Supervision and Examination Manual and will be used as a field guide by CFPB examiners to review...more

CFPB issues student loan exam procedures

by John L. Culhane, Jr. | Ballard Spahr LLP on 12/19/2012

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

CFPB’s “Paying for College” site continues to evolve

by John L. Culhane, Jr. | Ballard Spahr LLP on 12/18/2012

Last week Peter Jackson, the Senior Advisor for Communications at the CFPB, put up a post on the CFPB’s blog describing the CFPB’s “Paying for College” web tools, which are currently in a beta stage and which are still...more

CFPB Releases Exam Procedures For Student Loans

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 12/18/2012

The CFPB has published the procedures it will use in examining student lenders. The Student Lending Examination Procedures are an extension of the CFPB’s General Supervision and Examination Manual and will be used as a field...more

Financial aid shopping sheet gaining traction

by John L. Culhane, Jr. | Ballard Spahr LLP on 11/26/2012

The Financial Aid Shopping Sheet prepared by the CFPB and the Department of Education will now receive its litmus test. Last week, Secretary of Education Arne Duncan announced in a blog post on the DOE’s web site that more...more

CFPB Launches College Credit Card Agreement Database, Releases Annual Report on College Card Agreements

by BuckleySandler LLP on 11/7/2012

On November 1, the CFPB launched a database of college credit card agreements in effect during 2011 and released an annual report to Congress on such agreements. ...more

Chopra keeps focus on student loan servicing problems

by Ballard Spahr LLP on 10/31/2012

In an editorial last week in the Philadelphia Inquirer, Rohit Chopra, the CFPB’s Student Loan Ombudsman, once again made servicers of student loans the focus of his comments. In August, in remarks to the Congressional Forum...more

CFPB Report Likens Student Loan Complaints to Mortgage Servicing Problems

by BuckleySandler LLP on 10/25/2012

On October 16, CFPB Student Loan Ombudsman Rohit Chopra published the first annual report on student loans, as required by the Dodd-Frank Act. ...more

CFPB student loan ombudsman releases first annual report

by Ballard Spahr LLP on 10/23/2012

Recently, the CFPB’s Consumer Response Team released its Snapshot of Complaints, providing a one-page summary of the approximately 2900 private student loan complaints received by the CFPB from March 1, 2012 through September...more

Pew report could bolster CFPB student loan concerns

by Ballard Spahr LLP on 10/2/2012

The Pew Research Center has just released a report that seems likely to bolster the CFPB’s concerns about student loans. The report notes that “in nearly every demographic and economic category” more households are borrowing...more

CFPB Corrects Student Loan Report

by BuckleySandler LLP on 9/5/2012

On August 29, the CFPB released an updated and corrected report on private student loans. Although the updated report provides the same findings and recommendations as the original report, the revised report attempts to...more

Whew! CFPB reanalysis of student loan data doesn’t change findings and recommendations (but CFPB’s description of reanalysis...

by Ballard Spahr LLP on 9/4/2012

After reanalyzing certain sample loan level data, the CFPB announced that it is not making any changes to the key findings and recommendations in its July report to Congress on private student loans. The CFPB had posted a...more

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Education Law › Consumer Protection › Administrative Law

Private Student Lenders and Servicers Face CFPB Scrutiny

CFPB proposes more information collections

CFPB Examination Procedures for Student Lenders

CFPB Releases Student Lending Examination Procedures

CFPB issues student loan exam procedures

CFPB’s “Paying for College” site continues to evolve

CFPB Releases Exam Procedures For Student Loans

Financial aid shopping sheet gaining traction

CFPB Launches College Credit Card Agreement Database, Releases Annual Report on College Card Agreements

Chopra keeps focus on student loan servicing problems

CFPB Report Likens Student Loan Complaints to Mortgage Servicing Problems

CFPB student loan ombudsman releases first annual report

Pew report could bolster CFPB student loan concerns

CFPB Corrects Student Loan Report

Whew! CFPB reanalysis of student loan data doesn’t change findings and recommendations (but CFPB’s description of reanalysis...

Chopra student loan remarks could signal new CFPB proposals or actions

CFPB Releases Report on Private Student Loans, Testifies in Senate

Financial aid shopping sheet for student loans finalized

CFPB issues student loan report and launches online tool for problem student loans

CFPB shares feedback on online college cost comparison tool

CFPB Seeks Additional Private Student Loan Complaints

Student loans: lots of comments and another request for information

Lawmakers Ask CFPB to Examine Student Debit Cards

Lawmakers want CFPB input on use of college debit cards to disburse financial aid

Executive Order on military educational benefits includes role for CFPB

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