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Washington, D.C. Releases Annual Report Forms and Filing Deadlines

As recently reported, the Washington, D.C. Department of Insurance, Securities, and Banking (DISB) published a Bulletin in late April reminding those who service student education loans in the District of Columbia of their...more

Washington, D.C. Publishes Bulletin Reminding Student Loan Servicers of Annual Report

The Washington, D.C. Department of Insurance, Securities, and Banking (DISB) has published a Bulletin reminding those who service student education loans in the District of Columbia of their obligation to file an annual...more

CFPB hosts debt collection rulemaking town hall

One day after announcing its notice of proposed rulemaking regarding the Fair Debt Collection Practices Act (FDCPA), the CFPB held a town hall at the University of Pennsylvania to discuss the major aspects of the proposal,...more

NYDFS Creates New “Powerhouse” Consumer Protection and Financial Enforcement Division

The New York Department of Financial Services has announced the creation of a new “powerhouse” Consumer Protection and Financial Enforcement Division. ...more

FDIC and Duke University announce fintech research conference

This Wednesday April 24th, the Federal Deposit Insurance Corporation and Duke University’s Fuqua School of Business and Innovation and Entrepreneurship Initiative will host a conference titled “Fintech and the Future of...more

California publishes final student loan servicer regulations; California bill introduced to require additional information in...

The California Department of Business Oversight has sent an email to servicers notifying them of the publication of its final student loan servicer regulations, which became effective March 28, 2019....more

Student loan servicing developments in California, Illinois, and Washington; legislation introduced in Virginia and New Mexico

The new year heralds many new developments in the state regulation of student loan servicers.  California, Illinois, and Washington have each taken significant steps in implementing their existing laws while legislation has...more

California Amends Student Loan Servicing Act

California Governor Jerry Brown has signed into law Assembly Bill 38, which significantly modifies the scope, administration, and servicing requirements of the state’s Student Loan Servicing Act. ...more

Mulvaney Responds to Resignation of CFPB Student Loan Ombudsman

CFPB Acting Director Mick Mulvaney recently responded to former CFPB Student Loan Ombudsman Seth Frotman’s vocal departure from the Bureau.  As previously reported, Frotman tendered his resignation in a letter—also delivered...more

Washington D.C. publishes final student loan servicing regulations

The District of Columbia Department of Insurance, Securities, and Banking (DISB) published its final rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. ...more

California Releases Second Revised Student Loan Servicer Regulations

The California Department of Business Oversight (DBO) has published a second round of modifications to its proposed regulations under the State’s Student Loan Servicing Act.  As previously covered, the DBO published its first...more

California Releases Revised Student Loan Servicer Regulations

The California Department of Business Oversight (DBO) has published modifications to its proposed regulations under the State’s Student Loan Servicing Act.  As previously covered, the DBO published notice of its initial...more

D.C. issues second revision to student loan servicing regulations

The District of Columbia Department of Insurance, Securities, and Banking (DISB) has issued a second round of revised emergency and proposed rules under the Student Loan Ombudsman Establishment and Servicing Regulation...more

Student loan servicers seek to clarify federal preemption of state student loan servicing regulations in suit to enjoin...

The Student Loan Servicing Alliance, a trade group representing student loan servicers, has sued the District of Columbia to enjoin the operation of Law 21-214, the Student Loan Ombudsman Establishment and Servicing...more

FCC targets fraudulent robocalls with new call blocking rules

The FCC has issued a Report and Order and Further Notice of Proposed Rulemaking (Order) adopting new rules to allow voice service providers to proactively block calls from certain numbers that are suspected to be fraudulent....more

ED rebuffs Congressional plea to reinstate terminated CFPB MOUs

The Department of Education (ED) has apparently declined a request by 39 members of Congress to reinstate the Memoranda of Understanding (MOUs) between ED and the CFPB. ...more

FRB hosts 2017 interagency fair lending panel

The FRB recently hosted a fair lending “hot topics” webinar in conjunction the DOJ, HUD, CFPB, FDIC, OCC, and NCUA. The seven agencies discussed fair lending developments, including the revised HMDA reporting requirements,...more

California and Washington, D.C. issue student loan servicing regulations

California and the District of Columbia have recently released regulations under their respective student loan servicing laws. Each is taking comments on its regulations, but whereas California has merely issued proposed...more

Ninth Circuit affirms tribal lenders subject to CFPB investigative demands

The Ninth Circuit recently issued its opinion in CFPB v. Great Plains Lending, LLC, et al., in which three tribal-affiliated, for-profit lending companies (“Tribal Lenders”) challenged the authority of the CFPB to issue civil...more

Supreme Court Denies Certiorari To Review Second Circuit’s Decision in Madden v. Midland Funding, LLC

The U.S. Supreme Court has denied certiorari to review the decision of the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC. As previously reported, Madden involved a putative class action...more

House Financial Services Committee Scrutinizes Basis of Proposed CFPB Arbitration Rule

On Wednesday May 18, 2016, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the...more

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