News & Analysis as of

Fair Credit Reporting Act (FCRA) Student Loans

Sheppard Mullin Richter & Hampton LLP

CFPB Shifts Supervision and Enforcement Priorities; Staff Reduction Stayed by Court

On April 16, the CFPB released an internal memo outlining major shifts in its supervision and enforcement priorities, signaling a retreat from several areas of regulatory activity. The next day, the Bureau issued formal...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses five enforcement actions voluntarily

On February 27, the CFPB voluntarily dismissed, with prejudice, five additional enforcement actions it filed during the Biden administration: All enforcement actions were filed in federal courts, as opposed to using...more

Hudson Cook, LLP

CFPB Bites of the Month - December 2024 - Run, Run Rudolph, CFPB Ain't Too Far Behind

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In this month's article, we share some of our top "bites" for the prior months covered during the December 2024 webinar....more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter – December 2024 # 3

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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

Wiley Rein LLP

Wiley Consumer Protection Download (December 17, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2024 # 2

Troutman Pepper Locke on

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

Cadwalader, Wickersham & Taft LLP

The CFPB's Race Against the Clock

While many Federal agencies, including the prudential bank regulators, have decided to hold back moving forward with initiatives until after the inauguration in January, the Consumer Financial Protection Bureau ("CFPB") has...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 3, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2024 # 4

Troutman Pepper Locke on

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

Orrick, Herrington & Sutcliffe LLP

CFPB to ban servicer from federal student loan servicing and pay $120M

On November 12, the CFPB filed a proposed stipulated final judgment and order against a student loan servicer (the defendant) for alleged violations of the CFPA, the FCRA and the FDCPA. As previously covered by InfoBytes, the...more

Goodwin

CFPB Permanently Bans Large Student Loan Servicer from Market and Orders Redress of $120 Million

Goodwin on

On September 12, 2024, the CFPB announced that it entered into a stipulated proposed order with a large student loan servicer resolving allegations that the servicer forced borrowers into costly repayment options.​ Under the...more

Cozen O'Connor

CFPB Settles With Navient Over Allegedly Deceptive Student Loans

Cozen O'Connor on

The CFPB settled with student loan servicer Navient Corporation and related entities (collectively, “Navient”) to resolve allegations that its unfair and deceptive service of student loans violated the Consumer Financial...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Action Against Student Loan Servicer with Industry Ban

On September 12, 2024, the Consumer Financial Protection Bureau (CFPB) filed a proposed order which, if entered by the court, will ban a student loan servicer from servicing federal student loans and require it to pay $120...more

Hudson Cook, LLP

Nonbank Student Loan Servicer Agrees to a CFPB-Imposed Ban and to Pay $120 Million

Hudson Cook, LLP on

After more than seven years of litigation, on September 12, 2024, the CFPB filed the Stipulated Order reflecting its settlement with the Company over alleged violations of the CFPA, FCRA, and FDCPA....more

Wiley Rein LLP

Wiley Consumer Protection Download (June 4, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 2

Troutman Pepper Locke on

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

Troutman Pepper Locke on

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more

Cozen O'Connor

The State AG Report – 9.14.2023

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • Minnesota AG Investigates Student Loan Debt Relief...more

Ballard Spahr LLP

Second Circuit holds inclusion on credit report of student loan debt alleged to have been discharged in bankruptcy did not make...

Ballard Spahr LLP on

The U.S. Court of Appeals for the Second Circuit recently ruled that a plaintiff who alleged that Experian had violated the Fair Credit Reporting Act by including a discharged student loan debt on his credit report had not...more

Orrick, Herrington & Sutcliffe LLP

9th Circuit affirms decision in FCRA, CFPA, and TSR suit

In December, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s ruling holding an individual liable for violations of the FCRA, the TSR, and the CFPA after the defendant, who allegedly “played a...more

Orrick, Herrington & Sutcliffe LLP

2nd Circuit affirms dismissal in FCRA suit

On January 4, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s decision to grant summary judgment for a credit reporting agency (defendant) in a suit alleging FCRA violations. ...more

McGlinchey Stafford

Third Circuit Rules the FCRA Waives U.S. Sovereign Immunity

McGlinchey Stafford on

On August 24, 2022, the U.S. Court of Appeals for the Third Circuit held that the plain text of the Fair Credit Reporting Act (FCRA) operates as a waiver of sovereign immunity, widening the circuit split on this issue. ...more

Cozen O'Connor

Federal Court Standing Decision May Spark Trend In Consumer Protection Action Filings In State Court

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The U.S. Supreme Court’s 2016 decision in Spokeo Inc. v. Robins was a game-changer. That decision single-handedly raised the bar for a plaintiff alleging a violation of a consumer protection statute such as the Fair Credit...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 7, 2022)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

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