News & Analysis as of

Borrowers Public Service Loan Forgiveness program (PSLF program)

Orrick, Herrington & Sutcliffe LLP

Senator Warren invites student loan servicer to testify before Congress

On March 18, Senator Elizabeth Warren (D-MA) sent a letter to a large student loan servicer, inviting its executives to testify at an upcoming hearing hosted by the Banking, Housing, and Urban Affairs Subcommittee on Economic...more

Ballard Spahr LLP

CFPB issues Student Loan Servicing Special Edition of Supervisory Highlights

Ballard Spahr LLP on

Last week, the CFPB issued a “Student Loan Servicing Special Edition” of Supervisory Highlights.  In this blog post, we highlight a stealth expansion of supervisory jurisdiction and focus on the CFPB’s findings in two key...more

Cozen O'Connor

Multistate AG Coalition Urges Enhancement and Clarification of Federal Student Loan Rules and Processes

Cozen O'Connor on

In a letter to Secretary of Education Miguel Cardona and Analyst Jean-Didier Gaina, a coalition of AGs from nineteen states, the District of Columbia and the State of Hawaii Office of Consumer Protection submitted comments on...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Cozen O'Connor

Colorado Seeks Records From Student Loan Servicer Accused Of Incompetently Administering Federal Loan Forgiveness Program

Cozen O'Connor on

Colorado AG Phil Weiser sued federal student loan servicer Pennsylvania Higher Education Assistance Agency d/b/a FedLoan Servicing (“PHEAA”) over allegations that it failed to provide information to student borrowers about...more

McGuireWoods LLP

CFPB Provides Updated Guidance Related to Loan Forgiveness Program

McGuireWoods LLP on

On Thursday, June 22, 2017, the Consumer Financial Protection Bureau (CFPB) provided updated guidance for supervisory examinations of student loan servicers. Richard Cordray, the Director of the CFPB, gave prepared remarks...more

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