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Illinois student loan servicing bill vetoed

by Ballard Spahr LLP on

Senate Bill 1351, known as the Illinois Student Loan Bill of Rights, was vetoed at the end of last week by the state’s Republican Governor.  The bill would have created a student loan ombudsman and implemented new...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 16

by Clark Hill PLC on

Rep. Diane Black Fighting Budget Headwinds: Rep. Diane Black is facing a revolt over her plans to cut $200 billion from entitlement spending. The Tennessee Republican heads the House Budget Committee. A group of 20 GOP...more

Controversial NY lender and student loan servicer licensing proposals removed from budget bill

by Ballard Spahr LLP on

A New York lender licensing proposal that threatened to create new regulatory burdens for financial service providers and to potentially adversely affect credit availability to New York residents and businesses, has been...more

2017 May Be an Eventful Year for Student Loan Industry

As expected, student loans were a major issue in 2016, as the presidential election brought the issue to the forefront and regulatory scrutiny continued to rise. 2017 is now upon us, and the CFPB wasted no time getting the...more

Trump University Playbooks Get Trumped By Trade Secrets Law

by Dorsey & Whitney LLP on

Chances are over the last several days you’ve heard presidential-hopeful Donald J. Trump express his displeasure with a certain federal judge sitting on the bench in the U.S. District Court for the Southern District of...more

Senate Likely to Address Higher Education Bills Next Week

Next week, the Massachusetts Senate is likely to address legislation that will have an impact on higher education institutions in Massachusetts, their students and financial institutions extending loans to such students. ...more

Senator Warren to address student loan activists

by Ballard Spahr LLP on

Senator Elizabeth Warren is scheduled to be the keynote speaker today for “National Student Debt Day,” an event in Washington, D.C. for “student loan activists from around the country.” The event is sponsored by Young...more

The Government's Strategy to Combat the "Cyber Arms Race"

by Foley & Lardner LLP on

In the midst of ongoing, escalating and increasingly troublesome reports of large-scale corporate cyber breaches, the federal government is trying to fight back more forcefully with a dual strategy to shore up agency...more

Cybersecurity and Privacy in State of the Union Address

As expected in his State of the Union address last night, President Obama made it very clear that cybersecurity is on his agenda for 2015. After stating that: “No foreign nation, no hacker should be able to shut down...more

President Obama Proposes National Data Breach Law, Unveils New Consumer and Student Privacy Initiatives

by Davis Wright Tremaine LLP on

On January 12 President Obama visited the Federal Trade Commission (“FTC”) where he unveiled several new data security and privacy initiatives, including proposed legislation to create a national data breach notification law...more

White House Proposes National Data Breach Notification Standard

This has been a big week for cybersecurity announcements from Washington. In what the White House has called a series of “SOTU Spoilers,” President Obama announced his intention to follow through on some of the...more

Privacy & Cybersecurity Update - January 2015: President Announces Cybersecurity Legislative and Regulatory Proposals

On January 12 and 13, in speeches at the Federal Trade Commission (FTC) and the National Cybersecurity and Communications Integration Center (NCCIC), President Barack Obama announced several initiatives to enhance online...more

President Obama Proposes Legislation Requiring Businesses to Notify Customers of Data Security Breaches Within 30 Days

In a speech given before the Federal Trade Commission (FTC) on Monday, January 12, President Obama proposed federal legislation that would impose a nationwide standard on companies that experience a data security breach. The...more

President Announces New Legislation and Partnerships for Increased Privacy Protections

Today, President Obama announced a series of new bills and voluntary partnerships the White House will launch in order to further protect individual privacy in the wake of several high-profile data breaches at major U.S. and...more

A Look at Higher Education Bills in the House of Representatives

by DLA Piper on

The House of Representatives has seen a lot of action on the higher education front this year. Not only has Committee on Education and the Workforce (Ed and Workforce) Chairman John Kline passed a number of bills out of...more

Senator Crapo raises concerns with Department of Education campus financial product rulemaking

by Ballard Spahr LLP on

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

Obama takes action to increase assistance to student borrowers

by Ballard Spahr LLP on

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

Senator Hagan Introduces the Servicemember Higher Education Protection Act

by Ballard Spahr LLP on

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

Student Loan Refinancing Bill Stalled in Senate

by Ballard Spahr LLP on

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

Director Cordray testifies before Senate committee

by Ballard Spahr LLP on

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

Senate holds hearings on student loans

by Ballard Spahr LLP on

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

Elizabeth Warren and other congressional members urge rulemaking by the Department of Education re: regulating college/bank...

by Ballard Spahr LLP on

On April 22nd, Senator Warren, nine other Senators, and 14 members of Congress sent a letter (the “Letter”) to Secretary of Education Duncan urging that the Department of Education (DOE) exercise its rulemaking authority to...more

CFPB’s hand seen in student loan bill

by Ballard Spahr LLP on

Four Senate Democrats (Senators Boxer, Warren, Durbin and Reed) recently introduced a bill entitled the “Student Loan Borrower Bill of Rights.” On March 1, 2014, the CFPB will begin overseeing servicers of federal and private...more

New federal student loan rates create TILA compliance challenges

by Ballard Spahr LLP on

Last week, in a move intended to lower interest rates on federal student loans, the U.S. House of Representatives passed the Bipartisan Student Loan Certainty Act, which had previously been passed by the Senate....more

NALP: 18-Year Low for Law Grad Employment

by Bloomberg Law on

June 20 (Bloomberg Law) -- James Leipold, Executive Director for the National Association for Law Placement, talks with Bloomberg Law's Lee Pacchia about his organization's annual report on the job market for law school...more

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