News & Analysis as of

Loan Servicer Public Service Loan Forgiveness program (PSLF program)

Orrick, Herrington & Sutcliffe LLP

Senator Warren invites student loan servicer to testify before Congress

On March 18, Senator Elizabeth Warren (D-MA) sent a letter to a large student loan servicer, inviting its executives to testify at an upcoming hearing hosted by the Banking, Housing, and Urban Affairs Subcommittee on Economic...more

Ballard Spahr LLP

CFPB issues Student Loan Servicing Special Edition of Supervisory Highlights

Ballard Spahr LLP on

Last week, the CFPB issued a “Student Loan Servicing Special Edition” of Supervisory Highlights.  In this blog post, we highlight a stealth expansion of supervisory jurisdiction and focus on the CFPB’s findings in two key...more

Ballard Spahr LLP

CFPB encourages federal student loan servicers to conduct outreach to military borrowers on public service loan forgiveness

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) is “encouraging” student loan servicers to identify their military borrowers in order to conduct proactive outreach encouraging them to consolidate their loans and submit...more

Goodwin

CFPB Orders Student-Loan Servicer to Pay $1 Million Penalty and Remedy Miscommunications

Goodwin on

On March 30, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a student-loan servicer for alleged deceptive acts and practices in violation of the CFPA, 12 U.S.C. §§...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Bradley Arant Boult Cummings LLP

Misrepresentation Claims Not Preempted: Eleventh Circuit Rules Against Preemption in Student Loan Case

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

Goodwin

Massachusetts AG Sues Student Loan Servicer

Goodwin on

On August 23, 2017, Massachusetts Attorney General Maura Healey announced that her office had sued one of the nation’s largest federal student loan servicers, alleging that the servicer deprived public servants of relief...more

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