Consumer Protection Education

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Third Circuit: On-Campus Residency Requirements Protected By State-Action Immunity Doctrine

In a recent decision, the Third Circuit held that a public university and its non-profit partner were immune from antitrust liability after the university enacted a student residency policy that benefitted on-campus...more

Student Loan Servicers Still Looking for Clarification on Reporting Obligations

There is surprisingly little guidance for student loan servicers when it comes to credit reporting. The only recent guidance directed at loan servicers came by way of an announcement from the U.S. Departments of Education and...more

Student Loan Servicing Laws Enacted in Washington, D.C., Proposed in New York

Washington, D.C., and New York recently moved forward with efforts to license and regulate student loan servicers. In Washington, D.C., servicers of student loans made to District of Columbia residents are subject to a new...more

California to Require Domestic Water Suppliers to Test School Drinking Water for Lead

The State Water Resources Control Board recently adopted an amendment to all Domestic Water Supply Permits it issues to public water systems that supply drinking water. The amendment requires domestic water suppliers for...more

Court declines to enjoin Dept. of Education termination of recognition status of college accrediting organization challenging CFPB...

In December 2016, the Secretary of Education issued a decision adopting the decision of the Department of Education’s Senior Department Official terminating and withdrawing the Department’s recognition of the Accrediting...more

Notable New State Privacy and Data Security Laws – Part Two

This is the second in a two-part series addressing recent developments in state privacy and data security laws. This article addresses new laws about student privacy, enforcement/ punishment for data privacy and security...more

D.C. Circuit hears oral argument on CFPB authority to issue CID to college accrediting organization

Last week, the D. C. Circuit held oral argument in the CFPB’s appeal from the D.C. federal district court’s April 2016 ruling that the CFPB exceeded its statutory authority when it issued a CID to the Accrediting Council for...more

CFPB continues work on student loan payback playbook disclosures

The CFPB recently revised the prototype student loan Payback Playbook disclosures it has been developing with the Departments of Education and Treasury. These revisions were based on feedback from nearly 3,500 individual...more

FTC and DeVry University Settle False Advertising Claims for $100M

In December 2016, DeVry University agreed to pay $100 million to settle a lawsuit with the Federal Trade Commission (FTC) over allegations stemming from DeVry’s advertising about the employment rates and salaries of its...more

The looming student debt crackdown: compliance and enforcement lessons from the foreclosure crisis

Given the parallels between the current student loan debt crisis (including the CFPB, Illinois and Washington’s recent lawsuits against Navient) and the foreclosure crisis of 2010-14, now is a good time to reflect on the...more

CFPB and Two States File Suit Against Student Loan Company Navient

The CFPB announced on Wednesday that it had filed a lawsuit against Navient Corporation, formerly part of Sallie Mae, and two of its subsidiaries for alleged “systematic” failures in student loan servicing. The complaint...more

Mississippi AG Sues Google for Collection of Student Data

Mississippi Attorney General Jim Hood filed a Complaint against Google last week for alleged violations of the state’s Consumer Protection Act for its collection and use of students’ personal information and search history....more

The Forgotten Face of Student Lending

Mention student loans and the face that comes immediately to mind is probably someone in their early twenties. A recent report from the CFPB sheds light on an overlooked segment of the student loan population – consumers 60...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

CFPB releases report on student loan debt owed by older consumers

The CFPB has released a new report, “Snapshot of older consumers and student loan debt,” that provides statistics on the growing number of consumers age 60 and over (older consumers) who owe student loan debt and the growing...more

DeVry University Settles with FTC for a Whopping $100 Million

The Federal Trade Commission announced this week that it has settled with DeVry (DeVry) for $100 million over allegations that it misled prospective students with ads that promised higher employment success and income upon...more

CFPB releases report on college credit card agreements and compliance bulletin

The CFPB released its annual report on college credit card agreements (the fifth issued by the CFPB), together with a compliance bulletin regarding the obligation of colleges and universities under the CARD Act to publicly...more

D.C. Circuit to hold Feb. 2 argument on CFPB authority to issue CID to college accrediting organization

The D.C. Circuit will hear oral argument on February 2, 2017 on the CFPB’s appeal from the D.C. federal district court’s April 2016 ruling that the CFPB exceeded its statutory authority when it issued a CID to the Accrediting...more

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

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