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Student Loans Banks

Ballard Spahr LLP

FTC bans group of student loan debt relief scammers from the debt relief industry

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The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more

Troutman Pepper

Consumer Financial Services 2023 Year in Review and A Look Ahead

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 8, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Troutman Pepper

Massachusetts Division of Banks Fines Student Loan Servicer $500,000 for Servicing Without a License

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On May 19, the Massachusetts Division of Banks entered into a consent order with Educational Computer Systems, Inc. (ECSI) to resolve allegations that ECSI was engaging in the business of a third party loan servicer or...more

Sheppard Mullin Richter & Hampton LLP

Junk Fees Continue to be Focus of CFPB, Biden Administration

On March 8, the CFPB released a special edition of its Supervisory Highlights reporting on unlawful junk fees that were uncovered in a variety of servicing markets, including bank account deposits, auto loan servicing,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2023

President Recommends Regulatory Reforms to Address Recent Bank Failures - President Biden has issued a statement urging the federal banking agencies to adopt regulatory reforms that are meant to reduce the risk of future...more

Seward & Kissel LLP

2022 Highlights from the Global Bank and Institutional Finance & Restructuring Group

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$55B CLO/ Loan Facilities Represented several financial institutions in connection with CLOs (including middle-market CLOs), multi-currency loan facilities and warehouse transactions, as well as redemptions, re-pricings,...more

Jones Day

Massachusetts Enacts and Implements New Student Loan Servicing Law

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The Massachusetts Student Loan Borrower Bill of Rights The SL Bill of Rights came into effect on July 1, 2021, and the DOB issued its implementing regulations on the same day. Building upon and codifying earlier proposed...more

Troutman Pepper

2020 Consumer Financial Services Year in Review & A Look Ahead

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2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Alston & Bird

Structured Finance Spectrum - July 2018

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REGULATORY REPORT – FASB’s New Current Expected Credit Loss Model - Sharpen your pencils and put on your green eyeshades – the Financial Accounting Standards Board is making major changes to the credit loss accounting...more

Davis Wright Tremaine LLP

State Regulatory Enforcement Initiatives: Cooperation and Conflict

On January 30, 2018, DWT payments team member Andy Lorentz moderated a panel at ACI’s 18th National Forum on Prepaid Card Compliance, in Washington, D.C., entitled “Update on State Regulatory Enforcement Initiatives Affecting...more

Goodwin

Federal Reserve Settles with Pennsylvania Bank Over Alleged Deceptive Student Lending Practices

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On December 6, 2016, the Federal Reserve Board announced that it entered into a consent order with a Pennsylvania bank ordering it to cease and desist deceptive student lending practices, and assessing millions of dollars in...more

Goodwin

Financial Services Weekly News - May 2017 #2

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Editor's Note - In this Issue. The House Financial Services Committee passed the Financial CHOICE Act that would make significant changes to the Consumer Financial Protection Bureau; the U.S. Securities and Exchange...more

Ballard Spahr LLP

OCC Publishes New “Retail Lending” Booklet

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Last week the Office of the Comptroller of the Currency published a “Retail Lending” booklet, a new addition to the Safety and Soundness Asset Quality category of the Comptroller’s Handbook, which discusses the risks...more

Morrison & Foerster LLP

Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more

Troutman Pepper

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

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The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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On the heels of Deutsche Bank’s $7.2 billion deal, Credit Suisse has finalized the terms of its own MBS-related settlement. The Swiss bank will pay $5.3 billion to resolve claims that it misled investors about the standards...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Financial Industry Developments - Rejecting "True Lender" Arguments, California District Court Dismisses Claims Against Student Loan Servicers - This past Thursday, September 22, a federal district court in the...more

Stinson - Corporate & Securities Law Blog

CFPB Month in Review for August 2016

In case you missed it, here is what the Consumer Financial Protection Bureau (CFPB) was up to over the last month: Enforcement Actions and Litigation - Enforcement Action Against First National Bank of Omaha - ...more

Goodwin

Financial Services Weekly News - August 2016 #4

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Editor's Note - Friend the Fed! As is the case every August, our federal government and regulators are hard at work, laser focused on the important issues of the day. In this regard, on August 18, the Federal Reserve...more

Ballard Spahr LLP

CFPB touts initiatives in “fact sheets”

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To commemorate its fifth anniversary, the CFPB released a series of “fact sheets” touting its initiatives. The “fact sheets” consist of the following: CFPB: By the numbers. The CFPB lists various statistics, such as...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.21.16

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The Treasury Dept’s Office of Financial Research has found that money-market funds are increasingly entering into direct repurchase loans with large investors and insurers—another sign that “participants in short-term lending...more

Goodwin

Financial Services Weekly News - May 2016

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Regulatory Developments - CFPB Responds to Industry Concerns on Know Before You Owe Rule - On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more

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