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Student Loans › Third-Party Service Provider

Spilman Thomas & Battle, PLLC

The Academic Advisor - Education Law Insights, Issue 10, December 2023

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In this final edition of the year, we cover the following issues of import for educational institutions: - CFPB scrutiny of college-sponsored financial products; - Changes ahead for Title IV program participants and...more

Holland & Knight LLP

U.S. Department of Education Issues New Guidance on Third-Party Servicers

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The U.S. Department of Education (Department) published its newest "Dear Colleague Letter" (DCL ID: GEN-23-03) on Feb. 15, 2023, making sweeping changes to the regulation of agreements between institutions of higher education...more

Husch Blackwell LLP

Department of Education Expands Interpretation of "Third-Party Servicer" Definition (and Announces Incentive Compensation Review)

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Wednesday’s U.S. Department of Education Dear Colleague Letter announces an expanded Department interpretation of the definition of Third-Party Servicer to include a new array of vendors providing student recruiting and...more

Sheppard Mullin Richter & Hampton LLP

No Relief in Sight: CFPB and FTC Continue to Take Action Against Debt Settlement Companies

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On April 29, the CFPB filed a proposed order in federal court seeking final judgment against three California-based defendants for engaging in unlawful fee-charging practices and deceptive telemarketing. According to the...more

Cadwalader, Wickersham & Taft LLP

Federal Court Holds That Student Loan Trusts Are Subject to CFPB Enforcement Authority: What This Means for Consumer...

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On December 13, 2021, Judge Stephanos Bibas, visiting judge in the U.S. District Court for the District Delaware from the U.S. Court of Appeals for the Third Circuit, denied a motion to dismiss a lawsuit brought by the...more

Ballard Spahr LLP

Student Loan Advocacy Group Pushes Department of Education to Increase Oversight of For-Profit Colleges and Contractors

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The Student Borrower Protection Center (SBPC)—an organization established by former CFPB Student Loan Ombudsman Seth Frotman—recently published an article examining the Department of Education’s oversight of “lead...more

Dorsey & Whitney LLP

Student Loan Creditor Off the Hook for Third Party Collectors’ TCPA Violations, But is Not Exempt for Collecting Government Backed...

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A District Court in the Southern District of California recently cut loose a student loan creditor entangled in a Telephone Consumer Protection Act (TCPA) lawsuit, finding the defendant was not vicariously liable for the...more

Morrison & Foerster LLP

Higher One, Inc. Enforcement Actions Remind Nonbank Service Providers of Their Legal Obligations When Partnering With Banks

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On December 23, 2015, the Federal Reserve Board (“Federal Reserve”) and the Federal Deposit Insurance Corp. (“FDIC” and, collectively with the Federal Reserve, the “Agencies”) announced settlements with Higher One, Inc....more

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