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Borrower Defense Rule Consumer Financial Products

Ballard Spahr LLP

Dept. of Education finalizes regulations allowing use of pre-dispute arbitration agreements by schools receiving Title IV aid for...

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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

Hogan Lovells

Third time's the charm? – U.S. Department of Education issues additional Q&A on implementation of 2016 "borrower defense to...

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The U.S. Department of Education (ED) has issued additional guidance in the form of several supplemental "questions and answers" related to implementation of ED's 2016 "borrower defense to repayment" regulations (BDTR...more

Hogan Lovells

U.S. Department of Education provides additional, albeit limited, guidance on implementation of 2016 "borrower defense to...

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On 3 June 2019 the U.S. Department of Education (ED) published a two-page Questions and Answers (Q&A) document to provide additional guidance to colleges and universities about aspects of the final regulations often referred...more

Hogan Lovells

U.S. Department of Education provides guidance on implementation of 2016 "borrower defense to repayment" regulations

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On 15 March 2019 the U.S. Department of Education (ED) issued an Electronic Announcement to provide guidance to colleges and universities about selected provisions contained in final regulations often referred to as the...more

Ballard Spahr LLP

New bills introduced to prohibit use of mandatory arbitration provisions

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Democratic lawmakers have introduced several new bills to prohibit the use of mandatory arbitration provisions, ranging from bills that broadly target consumer transactions to bills that target schools that receive Title IV...more

Ballard Spahr LLP

Dept. of Education to issue guidance on arbitration ban

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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

Ballard Spahr LLP

Education Dept. to discharge federal student loans under borrower defense rule

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In a December 13 posting, the Department of Education announced that on December 14, it would begin sending emails to borrowers “to inform them that the company that handles billing and other services related to their federal...more

Ballard Spahr LLP

Court allows Dept. of Education “borrower defense” final rule to take effect

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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

Bradley Arant Boult Cummings LLP

Administration Seeks to Up the Bar for Student Loan Forgiveness Based on Fraud

The Trump administration is looking to stiffen the criteria for borrowers to obtain forgiveness of their student loans based on fraud. If enacted, this higher criteria would mark a significant shift for students who seek...more

Ballard Spahr LLP

Federal regulators’ Spring 2018 rulemaking agendas: items of interest to consumer financial services providers

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In addition to the CFPB’s Spring 2018 rulemaking agenda that we have already blogged about, the Spring 2018 rulemaking agendas of several other federal agencies contain some items of interest to consumer financial services...more

Ballard Spahr LLP

Lawsuit filed challenging Dept. of Education “borrower defense” final rule banning arbitration

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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

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