Loan Servicing

CFPB Proposes Rule to Supervise Largest Nonbank Student Loan Servicers

by Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 3/27/2013

The Consumer Financial Protection Bureau has announced its intention to oversee the nation's largest nonbank loan servicers, which service more than one million accounts each year, in the higher education loan market. While...more

CFPB Proposed Rule for Nonbank Student Loan Servicers

by Orrick - Structured Finance Group on 3/27/2013

On March 14, the CFPB proposed a rule that would allow it to federally supervise certain nonbank student loan servicers. ...more

CFPB Proposes Rule To Supervise Nonbank Student Loan Servicers

by BuckleySandler LLP on 3/25/2013

On March 14, the CFPB proposed a rule to allow it to supervise “larger participant” nonbank student loan servicers. The CFPB has authority to supervise, regardless of size, nonbanks that originate private education loans, and...more

Financial Services Bulletin: CFPB Proposes Student Loan Rule

by Perkins Coie on 3/21/2013

On Thursday, March 14, 2013, the Consumer Financial Protection Bureau (the "CFPB") propoed, pursuant to Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, a rule that would identify a market for student...more

CFPB proposes supervision of nonbank private and federal student loan servicers

by John L. Culhane, Jr. | Ballard Spahr LLP on 3/15/2013

The CFPB has issued a proposal to supervise nonbank student loan servicers who qualify as “larger participants” in the student loan servicing market. The CFPB already supervises student loan servicing by larger banks. It also...more

Director Cordray targets payday and student lenders in remarks to Consumer Advisory Board

by Alan S. Kaplinsky | Ballard Spahr LLP on 2/21/2013

Director Cordray’s prepared remarks for yesterday’s meeting of the CFPB Consumer Advisory Board contained some particularly ominous signs for student and payday lenders. ...more

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