News & Analysis as of

Student Loans Default Consumer Financial Protection Bureau (CFPB)

McGlinchey Stafford

CFPB Issues Debt Collection Final Rule

McGlinchey Stafford on

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a final rule (the Rule) amending Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The Rule modernizes requirements...more

Chambliss, Bahner & Stophel, P.C.

How to Deal With Student Loan Debt as You Age

The number of older Americans with student loan debt – either theirs or someone else’s -- is growing. Sadly, learning how to deal with this debt is now a fact of life for many seniors heading into retirement....more

Ballard Spahr LLP

Navient Attacks CFPB UDAAP Enforcement Without Implementing Rules

Ballard Spahr LLP on

One of the hallmarks of the CFPB’s enforcement actions has been its use of those actions to announce new legal standards. Navient attacks this enforcement strategy in its motion to dismiss a recent case brought against it by...more

Carlton Fields

CFPB Issues Statement Following Reports of Widespread Student Loan Servicing Failures

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB) recently focused its attention on the student loan industry following alleged widespread servicing failures reported by borrowers and found by the CFPB's examinations and...more

Ballard Spahr LLP

CFPB update on student loan complaints continues to highlight co-signer release issues

Ballard Spahr LLP on

The CFPB has issued a “Mid-year update on student loan complaints” that analyzes the approximately 3,100 private student loan complaints received by the CFPB betweenOctober 1, 2014 and March 31, 2015. The update also analyzes...more

McGuireWoods LLP

CFPB Pursues Recovery Against For-Profit College Corinthian and Relief for Its Students

McGuireWoods LLP on

Corinthian Colleges (Corinthian) announced on April 26 that it would cease operations at its remaining physical campuses. This announcement refers to the 30 or so physical campuses that Corinthian continued to operate...more

Orrick - Finance 20/20

CFPB Report Finds Distressed Private Student Loan Borrowers Driven Into Default

Orrick - Finance 20/20 on

On October 16, the CFPB released a report highlighting complaints by struggling private student loan borrowers who describe being driven into default....more

Goodwin

CFPB Releases Report on Student Loan Complaints

Goodwin on

In alignment with its recent focus on private student loans, the CFPB released a report describing the types of complaints it received related to “auto defaults”, the practice of placing private student loan borrowers in...more

Ballard Spahr LLP

CFPB student loan complaints report highlights alleged co-signer issues

Ballard Spahr LLP on

The CFPB’s Student Loan Ombudsman has released a report entitled “Mid-year update on student loan complaints” that highlights issues related to co-signers of private student loans. In particular, the report focuses on...more

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