Ombudsman

News & Analysis as of

High Court allows application for permission to bring judicial review proceedings relating to the jurisdiction of the Financial...

In this case report, Sarah Hitchins, an associate in Allen & Overy LLP’s Banking, Finance and Regulatory Litigation Group, considers the High Court’s decision to allow an application for permission to bring judicial review...more

The regulation of cosmetic interventions in the UK: toothless rhetoric or industry overhaul?

This Reed Smith client alert looks at the UK government’s response to the independent review of the regulation of cosmetic interventions in the UK. The key issues In recent years, cosmetic procedures have become widely...more

CFPB Student Loan Ombudsman Questions Marketing Of Student Financial Products; GAO Recommends More Transparency

On February 13, CFPB Student Loan Ombudsman Rohit Chopra published on the CFPB’s blog an update on the CFPB’s review of student financial products and raised concerns about certain marketing arrangements between financial...more

CFPB Reports Results Of Student Loan Payment Allocation Practices Inquiry

On February 3, the CFPB’s student loan ombudsman, Rohit Chopra, released a summary of student loan servicers’ responses to questions the CFPB posed last November about the application of borrower payments. ...more

Protesting IDIQ Orders Under $10 Million? Here Are Your Options

Imagine that your company is a contract holder under a U.S. Army multiple award, indefinite-delivery, indefinite-quantity (IDIQ) contract. The Army issues a request for proposal for a firm, fixed-priced task order, and your...more

CFPB Ombudsman Releases Annual Report

The CFPB's Ombudsman’s released its second annual report detailing its activities from October 1, 2012 through September 30, 2013. The report noted that the Ombudsman had received more than 1,400 inquiries in the past...more

CFPB Finalizes Rule Defining “Larger Participants” of the Student Loan Servicing Market

Noting that “student loan servicing is an important activity that affects millions of consumers,” the CFPB issued a final rule allowing it to supervise certain nonbank student loan servicers for the first time. The rule...more

CFPB Ombudsman’s Office issues second annual report

On December 3, the CFPB’s Ombudsman Office issued its second annual report covering the Office’s activities during fiscal year 2013 (October 1, 2012 through September 30, 2013). The role of the Ombudsman’s Office is to assist...more

CFPB Issues Report on Private Student Loan Payment Processing

The CFPB Student Loan Ombudsman issued a report on more than 3,800 complaints that the CFPB received from private student loan borrowers between October 1, 2012 and September 30, 2013. The most common type of complaint...more

CFPB Student Loan Report Recommends Servicing Policy Changes

On October 16, the CFPB Student Loan Ombudsman issued a second annual report on student loans. The report analyzes and discusses approximately 3,800 complaints submitted by consumers to the CFPB from October 1, 2012 through...more

CFPB student loan ombudsman issues second annual report

Yesterday, Rohit Chopra, the CFPB’s Student Loan Ombudsman, released his Second Annual Report which analyzes approximately 3,800 complaints received by the CFPB from private student loan borrowers between October 1, 2012 and...more

OCC Updates Procedures for Internal Appeals of Supervisory Decisions

The Office of the Comptroller of the Currency (OCC) recently updated its guidance on procedures for internal appeals of supervisory decisions at various levels. The subject matter deals solely with internal appeal procedures...more

The Benefits Of A Corporate Ombudsman

My good friend, Judge Stanley Sporkin, has served for several years as the BP Ombudsman, focusing on potential safety issues. Judge Sporkin was retained by BP in the aftermath of BP’s suffering of a number of safety...more

OCC Personnel Changes Elevate Role Of Enterprise Governance And Ombudsman, Indicate Increased Focus On Fair Lending

On February 7, the OCC announced that Larry Hattix will serve as Senior Deputy Comptroller for Enterprise Governance and Ombudsman. The move also elevates enterprise governance to the OCC’s Executive Committee. ...more

Mortgage Banking Update - December 14, 2012

In This Issue: - CFPB Monitor Named to the ABA Journal Annual Blawg 100 List - Temporary CONGRESS PASSES LEGISLATION TO FIX CFPB PRIVILEGE WAIVER PROBLEM - CFPB DESCRIBES PLANS FOR COORDINATING WITH STATE...more

CFPB Ombudsman Issues First Annual Report, Makes Recommendation Regarding CFPB Supervisory Examination Process

On November 30, the CFPB Ombudsman’s Office submitted its first annual report to the Director of the CFPB. It describes the establishment of the office and highlights the office’s activities from July 2011 through September...more

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