Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing
Consumer Finance Monitor Podcast Episode: A Deep Dive into Mass Mailings by Debt Relief Law Firms
Monthly Minute | Financial Relief for COVID-19
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
On July 18, the Eighth Circuit for the U.S. Court of Appeals granted the State of Missouri’s emergency motion for an administrative stay to prevent President Biden’s student loan relief plan from taking effect. The White...more
Recently, two district court judges partially blocked President Biden’s student debt relief program, known as the Saving on a Valuable Education (SAVE) plan. ...more
The White House recently announced that approximately 813,000 borrowers whose accounts were adjusted in August 2023 will receive an email from President Biden that their loans are being forgiven. This is based on the U.S....more
Borrower Defense to Repayment (BDR) refers to the administrative process by which borrowers apply to the U.S. Department of Education (ED) to have their federal Direct Loans discharged based on allegations of school...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
Last week, the US Supreme Court ruled that the Biden Administration’s efforts to cancel $430 billion in student loan balances was legally unsupportable. Forty-three million Americans will remember Biden v. Nebraska when...more
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
Following the Supreme Court’s June 30, 2023 ruling determining that the Biden-Harris administration did not have authority to carry out its student debt forgiveness plan, the administration released a fact sheet detailing new...more
On June 30, in Biden v. Nebraska, the Supreme Court ruled against the Biden administration’s student loan relief plan in a 6-3 decision. The plan, which was estimated to impact more than $430 billion of student loan...more
On June 30, 2023, the Supreme Court held that the Secretary of Education did not have the authority to implement the Biden Administration’s student loan forgiveness plan (“Biden Plan”). The decision will cancel the...more
Today, in the last day of the 2022-2023 term, the Supreme Court of the United States issued three decisions: Department of Education v. Brown, No. 22-535; Biden v. Nebraska, No. 22-506: These cases addressed suits...more
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
On January 11, a coalition of 22 state attorneys general from Massachusetts, California, Colorado, Connecticut, Delaware, the District Of Columbia, Hawaii, Illinois, Maryland, Michigan, Minnesota, Nevada, New Jersey, New...more
As litigation surrounding the Biden-Harris administration’s student debt forgiveness plan persists, the administration announced an extension of the student loan repayment pause through June 30, 2023. In an announcement...more
As discussed here, last month, the Eighth Circuit granted an emergency motion by Republican officials in six states to temporarily pause the Biden administration’s student loan forgiveness program while they appeal the...more
Last week, the Department of Justice (DOJ) and the Department of Education (DOE) distributed guidance to the legal community clarifying the process for the discharge of federal student loans in bankruptcy proceedings. The...more
Yesterday, a three-judge panel of the U.S. Court of Appeals for the Eighth Circuit granted a request to enjoin the Biden Administration’s federal student loan forgiveness program pending resolution of an appeal filed by state...more
The Biden administration’s student loan forgiveness program is on hold indefinitely after a Texas federal court issued its decision, finding the program to be unconstitutional. In Brown v. U.S. Department of Education, the...more
On November 10, 2022, a federal district court in the Northern District of Texas entered judgment in favor of two plaintiffs on an Administrative Procedure Act (APA) claim seeking vacatur of the Biden administration’s plan to...more
Late on Friday, October 21, the 8th Circuit Court of Appeals issued a stay of the Biden-Harris administration’s Student Debt Relief Plan while it considers a lawsuit brought by six Republican state attorneys general to block...more
On the evening of Friday, October 21, 2022, the U.S. Court of Appeals for the Eighth Circuit put a halt—albeit a potentially temporary one—to the Biden Administration’s federal student loan forgiveness program, which had been...more
On Thursday, October 20, the Biden-Harris Administration’s Student Debt Relief Program prevailed in two early legal cases challenging the plan. Justice Amy Coney Barrett denied an emergency bid to obstruct the program from a...more
In August, the Biden administration announced the long-anticipated plan for the cancellation of student loan debt for many student loan borrowers. This has been a controversial political topic for many, but a sigh of relief...more
On the afternoon of Monday, October 17, President Biden announced via Twitter and press release that the Department of Education (DOE) has officially launched the application for its Student Debt Relief Plan. Borrowers can...more