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Debt State Attorneys General

Cozen O'Connor

Democratic AGs Lend Unwavering Support to Efforts to Waive or Reduce Student Debt

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A coalition of 19 Democratic AGs is calling on the U.S. Department of Education (ED) to move quickly to implement its proposed regulations that would waive or reduce student loan repayment for certain groups of federal...more

Ballard Spahr LLP

CFPB settles claims against operator of training program arising out of income share agreements

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The CFPB recently announced the settlement of a bankruptcy court adversary proceeding filed jointly with the Attorneys General of 11 states against Prehired, LLC (Prehired) and two affiliated companies (Prehired Affiliates)...more

Ballard Spahr LLP

Debt Management Company to Pay $110k in Refunds to Customers under Agreement with Colorado Attorney General’s Office

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Colorado Attorney General Phil Weiser announced a recent agreement between Florida-based debt management company Touchstone Partners, Inc. and the Colorado Department of Law in resolution of Touchstone’s violations of the...more

Orrick, Herrington & Sutcliffe LLP

California AG warns against unlawful employer-driven debt arrangements

On July 25, California Attorney General Rob Bonta issued a Legal Alert to remind all employers of state-law restrictions on employer-driven debt. Bonta highlighted concerns about employers engaging in exploitative practices...more

Cozen O'Connor

AGs Ask Supreme Court to Lift Injunctions on Federal Government’s Student Debt Relief Plan

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A coalition of 22 Democrat AGs filed an amicus brief in support of the federal government in two cases before the U.S. Supreme Court concerning the government’s plan to cancel certain student loan debt in order to address the...more

Cozen O'Connor

The State AG Report – 10.6.2022

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Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Arizona AG Fines Google $85 Million Over...more

Cozen O'Connor

Multistate AG Coalition Urges Scrutiny of Buy-Now-Pay-Later Industry

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In a March 25 letter to Rohit Chopra, Director of the Consumer Financial Protection Bureau, AGs from 21 states, plus the Hawaii Office of Consumer Protection, responded to the CFPB’s Notice and Request for Comment Regarding...more

McGlinchey Stafford

Regulatory updates and considerations for GAP providers and creditors

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Guaranteed asset protection (GAP) waivers have always held state regulators’ attention, but as vehicle price increases drive up consumer demand for debt cancellation agreements, regulatory scrutiny into such agreements is...more

Cozen O'Connor

The State AG Report – 3.3.2022

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: New Hampshire AG Recovers $25 Million from...more

Cozen O'Connor

Student Loan Servicer Agrees to Cancel $1.7 Billion of Subprime Student Debt, Pay $95 Million in Restitution over Allegations of...

Cozen O'Connor on

A bipartisan group of 40 AGs, led by California, Illinois, Massachusetts, Pennsylvania, and Washington, reached a settlement with student loan servicer Navient Corporation and related entities (collectively, “Navient”) to...more

Cozen O'Connor

AGs Argue Trump-Era Student Borrower Defense Rule Is Unlawful And Should Be Repealed

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A group of 22 Democratic AGs, led by California AG Rob Bonta and Massachusetts AG Maura Healey, filed an amicus brief in the U.S. Court of Appeals for the Second Circuit in New York Legal Assistance Group (“NYLAG”) v....more

Cadwalader, Wickersham & Taft LLP

Illinois Supreme Court Holds Challenge To GO Bonds Is Barred By Laches, But Avoids Underlying Constitutional Issues

On May 20, 2021, the Illinois Supreme Court finally put to rest a long-simmering challenge to the validity of around $14 billion of Illinois general obligation bonds. The Supreme Court unanimously affirmed, albeit on...more

Goodwin

Pennsylvania AG Settles with Student-Loan Debt-Relief Consumer Financing Company

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On August 4, 2020, the Pennsylvania Office of Attorney General (Pennsylvania AG) announced that it reached a settlement with a company providing financing to consumers seeking student-loan debt relief. According to the...more

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