News & Analysis as of

Educational Institutions Consumer Financial Protection Bureau (CFPB) Consumer Financial Products

Troutman Pepper

CFPB Spotlights Fees in School Lunch Payment Platforms

Troutman Pepper on

On July 25, the Consumer Financial Protection Bureau (CFPB or Bureau) released an Issue Spotlight focusing on the fees associated with electronic payment platforms used by school districts to process school lunch payments. In...more

Saul Ewing LLP

CFPB Finds For-Profit Coding School Misrepresented Nature of Its Lending Products and Job Placement Rates

Saul Ewing LLP on

The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer...more

Ballard Spahr LLP

CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder Rule

Ballard Spahr LLP on

On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”)...more

Troutman Pepper

CFPB Reports That College-Sponsored Financial Products Have Higher Fees and Less Favorable Terms

Troutman Pepper on

The Consumer Financial Protection Bureau (CFPB or Bureau) released its 14th annual report to Congress in fulfillment of its requirements under the Credit Card Accountability Responsibility and Disclosure (CARD) Act. For the...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 10, December 2023

In this final edition of the year, we cover the following issues of import for educational institutions: - CFPB scrutiny of college-sponsored financial products; - Changes ahead for Title IV program participants and...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 12

Student Loans - Supreme Court Likely to Rule that Biden Student Loan Plan is Illegal, Experts Say. Here’s What that Means for Borrowers - “Long before the president acted, Republicans had criticized student loan...more

Manatt, Phelps & Phillips, LLP

Student Lending: CFPB Investigates Point-of-Sale Financing

A leading online payments system platform that offers point-of-sale (POS) financing reports it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) for allowing educational...more

Ballard Spahr LLP

CFPB releases annual report to Congress on college credit card agreements

Ballard Spahr LLP on

The CFPB has released its eighth annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act.  (The first two reports were issued by the Federal Reserve Board.)...more

Womble Bond Dickinson

What Schools Need to Know About CFPB’s Prepaid Accounts Regulation

Womble Bond Dickinson on

Counsel at schools and universities understandably don’t follow legal developments in financial services very closely, but recent changes in regulations affecting prepaid accounts could impact institutions of higher...more

Ballard Spahr LLP

CFPB releases seventh annual report to Congress on college credit card agreements

Ballard Spahr LLP on

The CFPB has released its seventh annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act....more

Ballard Spahr LLP

Dept. of Ed. Bans Pre-Dispute Arbitration Agreements by Title IV Schools

Ballard Spahr LLP on

The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more

Ballard Spahr LLP

CFPB enters into consent order with for-profit college owner

Ballard Spahr LLP on

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

Ballard Spahr LLP

Director Cordray defends CFPB authority to investigate college accrediting organization

Ballard Spahr LLP on

Director Cordray is reported to have defended the CFPB’s authority to investigate a college accrediting organization at a recent Politico event. On October 8, 2015, the CFPB issued a decision and order denying the petition of...more

Burr & Forman

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Ballard Spahr LLP

CFPB files enforcement action against for-profit education company over alleged predatory lending tactics

Ballard Spahr LLP on

After hinting for months that it intends to use its enforcement powers to police lending in the higher education arena, the CFPB dropped the hammer on ITT Educational Services, filing suit against the for-profit college over...more

15 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide