The CFPB has issued a proposed rule to establish a system for the registration of nonbanks subject to CFPB supervision that use “certain terms or conditions that seek to waive consumer rights or other legal protections or...more
The U.S. Department of Education recently announced final regulations, effective July 1, 2023, designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. Among other...more
The U.S. Department of Education recently announced proposed regulations designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. Among other things, the proposed...more
The final version of the National Defense Authorization Act for Fiscal Year 2022 (NDAA) (S. 1605) currently awaiting President Biden’s signature does not contain several proposed provisions that members of the consumer...more
Proposed legislation now working its way through the New Jersey Senate would eliminate the eligibility of postsecondary students and other individuals for State student assistance, training and employment services, including...more
In less than a year, pre-dispute arbitration agreements will be clearly permissible again now that the Department of Education has finalized its proposal to rescind the Obama administration’s “Borrower Defense” rule issued in...more
9/16/2019
/ Arbitration ,
Arbitration Agreements ,
Borrower Defense Rule ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Products ,
Department of Education ,
Federal Family Education Loan Program (FFEL) ,
Federal Funding ,
Final Rules ,
Financial Institutions ,
Financial Responsibility Standards ,
Labor Regulations ,
Pre-Dispute Arbitration ,
Student Loans ,
Title IV
Last month, the Department of Education issued guidance on implementation of its “borrower defense” final rule that was issued in November 2016 and the subject of litigation that resulted in an October 2018 federal district...more
As we reported, the Department of Education announced earlier this month that it would begin implementing its “borrower defense” final rule which was issued in November 2016 by providing discharges of federal student loans...more
12/27/2018
/ Academic Misconduct ,
Arbitration ,
Arbitration Agreements ,
Borrower Defense Rule ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Department of Education ,
Educational Institutions ,
Federal Student Loans ,
Higher Education Act ,
Title IV
The “borrower defense” final rule (Final Rule) issued by the Dept. of Education in November 2016 took effect at noon Wednesday, after Judge Randolph D. Moss of the D.C. federal district court refused to grant the renewed...more
10/19/2018
/ Arbitration ,
Borrower Defense Rule ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Products ,
Department of Education ,
Federal Student Loans ,
Higher Education Act ,
Rulemaking Process ,
Student Loans ,
Title IV
Earlier this week, Judge Randolph D. Moss of the D.C. federal district court heard oral argument on the renewed motion for a preliminary injunction filed by the California Association of Private Postsecondary Schools (CAPPS)...more
10/12/2018
/ Administrative Procedure Act ,
Arbitration ,
Borrower Defense Rule ,
Case Consolidation ,
Class Action ,
Class Action Arbitration Waivers ,
Department of Education ,
Educational Institutions ,
Federal Student Loans ,
Final Rules ,
Good Cause ,
Higher Education Act ,
Motion To Enjoin ,
Preliminary Injunctions ,
Regulatory Oversight ,
Rulemaking Process ,
Title IV
The Department of Education has issued a proposal that would rescind the “Borrower Defense” final rule issued by the ED in November 2016 and replace it with the “Institutional Accountability regulations” contained in the...more
7/31/2018
/ Arbitration ,
Arbitration Agreements ,
Borrower Defense Rule ,
Class Action Arbitration Waivers ,
Department of Education ,
Educational Institutions ,
Higher Education Act ,
Popular ,
Pre-Dispute Arbitration ,
Proposed Rules ,
Student Loans ,
Title IV
The U.S. Supreme Court on Monday ruled that employers can lawfully require employees to resolve employment disputes through individual arbitration rather than by joining other employees in class or collective actions....more
5/23/2018
/ Arbitration ,
Arbitration Agreements ,
Class Action Arbitration Waivers ,
Epic Systems Corp v Lewis ,
Ernst & Young v Morris ,
Federal Arbitration Act ,
Murphy Oil v NLRB ,
Remand ,
Reversal ,
Savings Clause ,
SCOTUS
The New York Education Department (NYED) has issued a ruling which states that the Bureau of Proprietary School Supervision (BPSS) will not permit an enrollment agreement, including an arbitration clause, to infringe on the...more
2/27/2018
/ Arbitration ,
Arbitration Agreements ,
Career Development ,
Department of Education ,
Educational Institutions ,
Financial Aid ,
Higher Education Act ,
Jurisdiction ,
Regulatory Oversight ,
State and Local Government ,
Student Enrollment ,
Student Loans ,
Title IV ,
Training
The Department of Education, in an issue paper submitted as part of negotiated rulemaking on its final “borrower defense” rule, is proposing to require schools that use pre-dispute arbitration agreements and class action...more
1/18/2018
/ Arbitration ,
Arbitration Agreements ,
Borrower Defense Rule ,
Class Action ,
Class Action Arbitration Waivers ,
Department of Education ,
Disclosure Requirements ,
Federal Student Aid ,
Higher Education Act ,
Regulatory Reform ,
Title IV
In a notice published in today’s Federal Register, the Dept. of Education announced that it is postponing “until further notice” the July 1, 2017 effective date of various provisions of the “borrower defense” final rule...more
The California Association of Private Postsecondary Schools (CAPPS) has filed a complaint in D.C. federal district court against the Dept. of Education and Education Secretary Betsy DeVos to overturn the “borrower defense”...more
6/8/2017
/ Academic Misconduct ,
Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Borrower Defense Rule ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Department of Education ,
Educational Institutions ,
Federal Student Loans ,
Final Rules ,
Higher Education Act ,
Title IV
The U.S. Department of Education has issued a proposed rule that includes a ban on mandatory pre-dispute arbitration agreements by schools receiving Title IV assistance under the Higher Education Act (HEA) and a new federal...more
A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) when it filed a summary judgment motion in a collection action after the debtor had sought enforcement of a credit card agreement’s arbitration...more
Weighing in on an issue that has divided the federal courts of appeals, the Second Circuit has held that under the Federal Arbitration Act (FAA), a court that grants a motion to compel arbitration of all claims must stay the...more
Four Senate Democrats (Senators Boxer, Warren, Durbin and Reed) recently introduced a bill entitled the “Student Loan Borrower Bill of Rights.” On March 1, 2014, the CFPB will begin overseeing servicers of federal and private...more