News & Analysis as of

Student Loans Compliance

CFPB issues Fall 2015 supervisory report

by Ballard Spahr LLP on

In its Fall 2015 Supervisory Highlights, which covers supervision work generally completed between May and August 2015, the CFPB highlights legal violations resolved using non-public supervisory actions involving consumer...more

Interagency task force issues recommendations on federal student loan servicing contracts

by Ballard Spahr LLP on

Pursuant to a March 2015 Presidential directive, an interagency task force consisting of the Department of the Treasury, Department of Education, Office of Management and Budget, and Domestic Policy Council has issued...more

Dodd-Frank News: June 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

by Burr & Forman on

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Banking & Financial Services E-Note - December 19, 2013

by Burr & Forman on

In This Issue: - Several Swiss Regional Banks to Cooperate with U.S. Tax Rules - Volcker Rule Approved by Federal Regulators - Treasury Secretary Sets Goal of Foreign Bank Reform in 2014 - Largest Mortgage...more

CFPB Finalizes Rule Defining “Larger Participants” of the Student Loan Servicing Market

by Goodwin on

Noting that “student loan servicing is an important activity that affects millions of consumers,” the CFPB issued a final rule allowing it to supervise certain nonbank student loan servicers for the first time. The rule...more

CFPB To Oversee Nonbank Student Loan Servicers

The CFPB has issued a rule that allows the CFPB to supervise certain nonbank student loan servicers for the first time. The CFPB currently oversees student loan servicing at the largest banks. ...more

Compliance Focus: New FSA Handbook Prohibits Discounts to Students Who Pay in Cash or Who Pay Before the Start of Class

by DLA Piper on

As many of you know, the new Federal Student Aid Handbook were released this summer. There are a number of new items in the handbook and I encourage you all to review it. We will be discussing these new items in future...more

The SCRA and Student Loans—Senate Hearings Highlight Agency Collaboration on Investigative and Enforcement Activities

by King & Spalding on

Congress enacted the Servicemembers Civil Relief Act (SCRA or “Act”), a law whose origins date back to the Civil War, to strengthen the national defense through certain protections provided to servicemembers. By protecting...more

New federal student loan rates create TILA compliance challenges

by Ballard Spahr LLP on

Last week, in a move intended to lower interest rates on federal student loans, the U.S. House of Representatives passed the Bipartisan Student Loan Certainty Act, which had previously been passed by the Senate....more

Oklahoma Enacts Private Student Loan Requirements

by Ballard Spahr LLP on

Oklahoma has enacted new requirements for private student loans that become effective on July 1, 2013. The requirements are set forth in the Oklahoma Private Student Loan Transparency Act, a part of House Bill No. 1829....more

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