News & Analysis as of

Borrowers Debt Relief

Alston & Bird

Where Does Student Debt Relief Go After the Supreme Court Struck Down Biden’s Debt Cancellation Plan?

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The Biden Administration is scrambling to find a new way to provide relief to the nearly 43 million people who borrowed $430 billion in student loans. Our Education Team breaks down the Supreme Court’s ruling and questions...more

Frantz Ward LLP

Student Loan Forgiveness at Risk after Skeptical Justices Focus on Fairness and Authority

Frantz Ward LLP on

Earlier this week, the United States Supreme Court heard oral arguments in a challenge to the Biden administration’s effort to cancel $400 billion in student debt. The litigation was initiated by a group of six right-leaning...more

Sheppard Mullin Richter & Hampton LLP

FTC Bans Operators of Alleged Debt Relief Scam, $5.3M penalty

On February 28, the FTC announced that the operators of an alleged credit card interest rate reduction scam will be permanently banned from the debt relief industry as part of court orders resolving charges by the FTC and the...more

Seyfarth Shaw LLP

Student Lending Proposals to the Incoming Biden Administration

Seyfarth Shaw LLP on

U.S. Representative Maxine Waters, Chairwoman of the U.S. House Committee on Financial Services, penned a letter to the incoming Biden administration suggesting changes to the student lending regulatory environment, as well...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Moore & Van Allen PLLC

The Future After Forbearance: What’s Next?

Moore & Van Allen PLLC on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) requires lenders on all government-backed loans to provide forbearance agreements on residential loan payments for a period of 180 days to any borrower that...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Ballard Spahr LLP

State AGs seek information from ED on discharge of federal loans to former ITT students

Ballard Spahr LLP on

A group of 22 state Attorneys General have sent a letter to the Department of Education seeking information “to determine whether the [ED] is providing relief to thousands of former ITT Tech students as required by federal...more

Goodwin

Financial Services Weekly News: Agencies Finalize Community Bank Leverage Ratio And Amend Swap Margin Rule

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC) (together, the federal banking agencies) finalized...more

Manatt, Phelps & Phillips, LLP

State AGs Again Target Abuses Against Student Borrowers, Military

Demonstrating the continuing enforcement activity by state attorneys general with respect to student lending and active servicemembers, the AGs in Massachusetts and New York recently obtained consent orders from,...more

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