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Department of Education Higher Education Act Banking Sector

Ballard Spahr LLP

Education Dept. says state student loan servicing laws are preempted

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In response to the wave of new state student loan servicing laws and enforcement activity, the U.S. Department of Education has published an interpretation emphasizing that the Higher Education Act (HEA) preempts state...more

Ballard Spahr LLP

Another trade group seeks federal preemption guidance from ED

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The National Council of Higher Education Resources (NCHER), a national trade association representing higher education finance organizations, has written to the Department of Education urging the ED to issue preemption...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

Ballard Spahr LLP

CFPB releases report on college credit card agreements and compliance bulletin

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The CFPB released its annual report on college credit card agreements (the fifth issued by the CFPB), together with a compliance bulletin regarding the obligation of colleges and universities under the CARD Act to publicly...more

BakerHostetler

U.S. Department of Education Turns Eye to Regulating Financial Services Industry

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On October 27, 2015, the United States Department of Education issued 433 pages of new regulations governing student loan programs under the Student Assistance General Provisions regulations promulgated under the Higher...more

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