A Deep Dive into the Debate Over Federal Student Loan Forgiveness
The Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (the “CARES Act”) was signed into law on March 27, 2020. Although much has been made of the obligations imposed on student loans and the servicers of...more
As we’ve been tracking for over a year now, courts across the country have addressed the significant question of whether the federal laws governing federally owned or guaranteed student loans preempt state laws placing...more
The New York Department of Financial Services ("DFS") has finalized the last piece of the Empire State's student loan servicer puzzle. On October 1st, the DFS issued a Student Loan Servicers Regulation (the "Regulation") that...more
We have previously written about recent regulatory focus on the student loan servicing industry. In particular, we discussed the issuance of a 151-page report issued by the Consumer Financial Protection Bureau (CFPB) titled...more
The CFPB released its fourth Annual Report of the 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. (The...more
The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more