News & Analysis as of

Private Student Loans Consumer Financial Protection Bureau (CFPB)

BCLP

Happy Holidays: CFPB Advisory Opinions!

BCLP on

On November 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) set forth procedures for the issuance of advisory opinions provided as interpretive rules to resolve regulatory uncertainty, effective immediately. Under...more

Goodwin

CFPB and 47 States Enter Settlement with Holder of Private Student Loans for Allegedly Providing Substantial Assistance in...

Goodwin on

On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed stipulated judgment against a Delaware statutory trust after a settlement agreement was reached between the trust...more

Robins Kaplan LLP

Financial Daily Dose 9.16.2020 | Top Story: WTO Finds U.S.’s 2018 Tariffs on China Broke Trade Rules

Robins Kaplan LLP on

A World Trade Organization panel on Tuesday declared that the U.S.’s 2018 tariffs on China “violated international trade rules,” siding with China and its allegations that the White House’s trade war broke, among other...more

Ballard Spahr LLP

CFPB enters into settlement with funder of ITT private student loans

Ballard Spahr LLP on

A new (and perhaps final) chapter was added to the tale of ITT Educational Services, Inc. last week with the CFPB’s announcement that it had settled the lawsuit it filed against Student CU Connect CUSO, LLC (CU Connect), a...more

Ballard Spahr LLP

GAO report on private student loan rehabilitation programs calls on CFPB to provide clarification

Ballard Spahr LLP on

A new report issued by the Government Accountability Office titled, “Private Student Loans: Clarification from CFPB Could Help Ensure More Consistent opportunities and Treatment for Borrowers,” calls on the CFPB to provide...more

Ballard Spahr LLP

CFPB discusses handling of student loan partial prepayments by servicers

Ballard Spahr LLP on

In a new blog post by Student Loan Ombudsman Seth Frotman, the CFPB discusses its concerns regarding how student loan servicers may be responding to borrowers seeking to make partial prepayments on their student loans and...more

Ballard Spahr LLP

Beating a dead horse: CFPB announces default judgment against Corinthian

Ballard Spahr LLP on

The CFPB announced that it has obtained a final default judgment against Corinthian Colleges, Inc. from the Illinois federal court in which it sued Corinthian in September 2014. In May 2015, Corinthian filed a petition under...more

Stinson LLP

CFPB Continues to Take Action Against Offenders in Debt Collection Services

Stinson LLP on

CFPB Takes Action Against Servicemember Auto Lender Security National Automotive Acceptance Company - On October 28, 2015, the Consumer Financial Protection Bureau (CFPB) filed an administrative order against Security...more

Bradley Arant Boult Cummings LLP

The Four Cornerstones: Regulatory Focus Sharpens on Student Loan Servicing Industry

We have previously written about recent regulatory focus on the student loan servicing industry. In particular, we discussed the issuance of a 151-page report issued by the Consumer Financial Protection Bureau (CFPB) titled...more

Holland & Knight LLP

CFPB Proposes Limits on Companies' Use of Arbitration Clauses

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) has proposed new rules that would ban companies' use of arbitration clauses that prevent consumer class action lawsuits. The potential new rules, announced this month, would...more

Ballard Spahr LLP

CFPB Student Loan Ombudsman highlights FFELP loans in fourth annual report

Ballard Spahr LLP on

The CFPB released its fourth Annual Report of the Student Loan Ombudsman discussing complaints received by the CFPB about private and federal student loans and the lessons drawn by the Ombudsman from those complaints. (The...more

BakerHostetler

CFPB Taking Steps to Ban Class Action Waivers

BakerHostetler on

On October 7, the CFPB announced at a field hearing in Denver, Colorado, that it plans to propose rules via its rule-making authority that would prohibit financial services companies from including class action waivers in...more

Baker Donelson

CFPB Eyes Consumer Arbitration Clauses

Baker Donelson on

It has only been 24 hours since the Consumer Financial Protection Bureau (CFPB) announced its plans to propose rules limiting the use of arbitration clauses, but the financial services industry is already gearing up to...more

Stinson LLP

CFPB Takes Aim at Class Action Waivers in Arbitration

Stinson LLP on

On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is considering proposing rules that would prohibit companies from including in consumer contracts arbitration clauses that prevent...more

Goodwin

Financial Services Weekly News Roundup - July 2015 #4

Goodwin on

Regulatory Developments: SEC Approves New Debt Research Rule and Amended Equity Research Rule - On July 16, the SEC approved FINRA Rule 2241, which modifies and clarifies existing rules related to research analysts,...more

Carlton Fields

Still Threatened: Arbitration Clauses in Securities Customer Agreements

Carlton Fields on

In a report to Congress released in March, the Consumer Financial Protection Bureau (CFPB) takes aim at consumer agreements that require disputes to be resolved by arbitration. The CFPB generally does not have...more

MoFo Reenforcement

CFPB Launches Official Inquiry Into Student Loan Servicing

MoFo Reenforcement on

The CFPB has announced an inquiry into student loan servicing practices. The inquiry includes a formal Request for Information from borrowers, institutions, financial service providers, and others, and call to borrowers to...more

Katten Muchin Rosenman LLP

Regulators Release Guidance on Private Student Loans With Graduated Repayment Terms at Origination

On January 29, the federal financial regulatory agencies, in partnership with the State Liaison Committee of the Federal Financial Institutions Examination Council, issued guidance for financial institutions on private...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

ECON Votes in Favor of the MIF Regulation - On January 27, the Economic and Monetary Affairs Committee ("ECON") released a press release stating that it had voted in favour of the proposed Regulation on multilateral...more

Orrick - Finance 20/20

Guidance on Private Student Loans With Graduated Repayment Terms Released

Orrick - Finance 20/20 on

On January 29, federal financial regulatory agencies in partnership with the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council, issued guidance for financial institutions on private...more

Ballard Spahr LLP

CFPB seeks information from industry on student loan modification options and issues guidance on private student loans with ...

Ballard Spahr LLP on

As a follow up to a January 2014 meeting with private student loan lenders and servicers convened by Director Cordray and Education Secretary Arne Duncan, the CFPB sent letters last week to certain “market participants”...more

Orrick - Finance 20/20

Regulators Release Guidance on Private Student Loans With Graduated Repayment Terms at Origination

On January 29, the federal financial regulatory agencies (the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union...more

Orrick - Finance 20/20

CFPB Report Finds Distressed Private Student Loan Borrowers Driven Into Default

Orrick - Finance 20/20 on

On October 16, the CFPB released a report highlighting complaints by struggling private student loan borrowers who describe being driven into default....more

Ballard Spahr LLP

CFPB files enforcement action against for-profit education company over alleged predatory lending tactics

Ballard Spahr LLP on

After hinting for months that it intends to use its enforcement powers to police lending in the higher education arena, the CFPB dropped the hammer on ITT Educational Services, filing suit against the for-profit college over...more

Ballard Spahr LLP

CFPB sends enforcement action “early warning” to for-profit postsecondary education provider

Ballard Spahr LLP on

In a Form 8-K filed with the SEC on December 27, 2013, ITT Educational Services, Inc. disclosed that it has received a CFPB “early warning” letter stating that the CFPB’s Enforcement Office is considering recommending that...more

28 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide