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Students Universities Consumer Financial Protection Bureau (CFPB)

Troutman Pepper

CFPB Reports That College-Sponsored Financial Products Have Higher Fees and Less Favorable Terms

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The Consumer Financial Protection Bureau (CFPB or Bureau) released its 14th annual report to Congress in fulfillment of its requirements under the Credit Card Accountability Responsibility and Disclosure (CARD) Act. For the...more

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 10, December 2023

In this final edition of the year, we cover the following issues of import for educational institutions: - CFPB scrutiny of college-sponsored financial products; - Changes ahead for Title IV program participants and...more

Womble Bond Dickinson

What Schools Need to Know About CFPB’s Prepaid Accounts Regulation

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Counsel at schools and universities understandably don’t follow legal developments in financial services very closely, but recent changes in regulations affecting prepaid accounts could impact institutions of higher...more

Ballard Spahr LLP

CFPB releases report on college credit card agreements and compliance bulletin

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The CFPB released its annual report on college credit card agreements (the fifth issued by the CFPB), together with a compliance bulletin regarding the obligation of colleges and universities under the CARD Act to publicly...more

Carlton Fields

U.S. Department of Education Outlines Loan Relief Pathway for Certain Students

Carlton Fields on

On March 11, the U.S. Department of Education (DOE) released an advanced proposal of rulemaking that would establish a more "borrower-friendly process" for students seeking loan relief triggered by unscrupulous conduct by...more

Baker Donelson

CFPB Takes Aim at Relationships between Universities and Credit and Debit Card Issuers

Baker Donelson on

Financial institutions marketing credit and debit cards to college and university students should prepare for likely investigations and enforcement actions by the Consumer Financial Protection Bureau and other regulatory...more

Ballard Spahr LLP

CFPB proposes scorecard for colleges seeking to partner with financial institutions

Ballard Spahr LLP on

The CFPB has issued a request for information (RFI) in which it seeks comments on a draft “Safe Student Account Scorecard” to be used by colleges and universities to obtain information from prospective financial institution...more

Goodwin

CFPB Releases Report on College Credit Card Agreements

Goodwin on

The CFPB released its annual report on college credit card agreements to Congress. Section 305 of the CARD Act requires credit card issuers to annually submit to the CFPB the terms and conditions of any college credit card...more

Foley & Lardner LLP

The CFPB Requests That Agreements Marketing Financial Products to Students Enrolled in Institutions of Higher Education be...

Foley & Lardner LLP on

As a follow up to its initial inquiry earlier this year, the Consumer Financial Protection Bureau (“CFPB”) is alerting financial institutions about the “potentially risky practice of making secret payments” to colleges and...more

Ballard Spahr LLP

CFPB findings on campus banking products portend new limitations

Ballard Spahr LLP on

Findings on campus banking products released this past Monday by the CFPB in conjunction with a Banking on Campus Forum held in Washington, D.C. appear to be a harbinger of new limitations on the marketing of these products....more

Ballard Spahr LLP

Is the CFPB now the BMOC?

Ballard Spahr LLP on

Last week, the CFPB muscled its way on campus, announcing that it will be looking at the impact of financial products marketed to students through their colleges and universities....more

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