Fixing Law Schools: Are More Types of Degrees the Answer?
ATL Law School Rankings: All About The Jobs
The Integrated and Coordinated Approach to Title IX Compliance
Why Milbank Sends 4th-Years Back To School
Next Accreditation System – Interview with Andy Roth, Member, Mintz Levin
Dean: Law Schools Use Merit Scholarships To Boost Rankings
How Bryan Cave Grooms Rainmakers
Consultant: Legal Ethics Rulemaking Outpaced By Technology
Dean: Law Firms 'Support' NYLS's 2 Year Degree Program
Law Prof: Law Schools Still 'Inaccurate' On Employment Numbers
What is an Intellectual Property Attorney?
Protecting Separate Property in Arizona: Basic Principles
Jobs, Funding For Courts On Agenda For New ABA President
What is an Irrevocable Trust?
Does This New ABA Report Signal Change For Law Schools?
NYC Gifted Programs Should Rely on 'Math,' Lawyer Says
Social Networking: New Risks & Opportunities at Work
Law School Reformers Create "False Sense of Doom"
How Can I Make the Most Out of the First Meeting?
Jason Maloni on Schools and Education
A recent class action brought against the University of Miami (“University”) previews what could become an emerging trend among plaintiffs’ class action attorneys to seek damages for the unauthorized disclosure of personal...more
Republican Senator Mike Crapo, Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter last week to Department of Education (ED) Secretary Arne Duncan to raise several concerns with the...more
On August 6, the CFPB’s Student Loan Ombudsman, Rohit Chopra, published a blog post addressing the financial arrangements between financial institutions and institutions of higher education that market financial products to...more
Two recent articles highlight how student loan debt is often the subject of distorted reporting.
An article from Hamilton Place Strategies observed that news stories often include anecdotal stories about families...more
According to a new blog post about “secret banking contracts” by Rohit Chopra, the CFPB’s Student Loan Ombudsman, the CFPB is sending letters to colleges and universities “to make sure they know that their bank partner has...more
Over the past week, members of Congress from both parties have sent several letters to the Department of Education (DOE or ED) regarding its ongoing rulemaking related to the ways higher education institutions request,...more
On July 15, the Department of Education’s Office of Inspector General (OIG) published a report on its audit of the Department’s Federal Student Aid (FSA) office, which revealed that the FSA has failed to effectively: (i)...more
On July 14, Illinois Attorney General (AG) Lisa Madigan announced that her office filed separate civil lawsuits in state court against two student debt relief firms and their principals. The lawsuits allege that the...more
On July 1, the Federal Reserve Board announced a joint enforcement action with the Illinois Department of Financial and Professional Regulation against a state bank that allegedly failed to properly oversee a nonbank...more
The charge that student loan debt is causing young adults to postpone home ownership has come from various quarters, including the CFPB. However, two new studies, one the subject of an article released earlier this year and...more
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
President Obama issued a Presidential Memorandum last Monday directing the Secretary of Education to issue regulations that allow additional students to take advantage of a program to cap their student loan payments at 10...more
New legislation, titled the Servicemember Higher Education Protection Act (the “Bill”), was introduced recently by Senator Kay Hagan (D-NC). The Bill includes several provisions that expand protections under the...more
Late last week, the student loan refinancing bill introduced by Senator Warren (D-MA) came up 4 votes short of the 60 needed to end debate and prevent a filibuster. If enacted, S. 2292, the Bank on Students Emergency Loan...more
In the wake of recent focus on student loan debt, the Senate Committee on Banking, Housing and Urban Affairs held a hearing on the “Student Loan Servicing: the Borrower’s Experience.” The concern shown in some testimony at...more
Institutions regulated by the Consumer Financial Protection Bureau (CFPB) and subject to its enforcement authority are dealing with of the agency’s sweeping authority to prohibit unfair, deceptive, and abusive acts or...more
Yesterday, the Senate Committee on Banking, Housing and Urban Affairs heard testimony from Director Cordray at its hearing titled “The Consumer Financial Bureau’s Semi-Annual Report to Congress.” Noteworthy aspects of...more
Last Wednesday, the Senate Budget Committee and the Senate Banking Committee held separate hearings about student loans. Interestingly, the CFPB was represented in only one of the hearings.
The Senate Budget Committee...more
The Illinois Attorney General, who filed suit two years ago under the Illinois Consumer Fraud and Deceptive Business Practices Act against a group of entities related to for-profit college financing, amended its complaint to...more
Director Cordray spoke at the Boulder Summer Conference on Consumer Financial Decision Making this week, addressing student loan debt as a “pressing problem and a matter of grave importance to public policy in America.”...more
Earlier this month, an Illinois state court granted the motion of the state’s Attorney General to further amend her complaint in a lawsuit filed against a for-profit college and its owners to add new counts alleging that the...more
On May 14, Senator Dick Durbin (D-IL) sent a letter to student loan servicers calling on them to voluntarily establish a liaison for servicemembers with student loan accounts to assist those servicemember with obtaining SCRA...more
Not only student loan servicers, but all companies, particularly those subject to the CFPB’s supervisory authority, face new compliance risk under the Servicemembers Civil Relief Act (the “SCRA”) as a result of the stunning...more
Yesterday, as a result of a referral from the Consumer Financial Protection Bureau, the Department of Justice and the Department of Education announced a $60 million settlement against a major student loan servicer for...more
Under CFPB’s broad mandate, many companies outside the financial services industry may be subject to expensive civil investigations.
A for-profit technical school may not appear to be a financial services company. But...more
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