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Student Loans Unfair or Deceptive Trade Practices

Cozen O'Connor

CFPB Settles With Navient Over Allegedly Deceptive Student Loans

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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

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

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

Sheppard Mullin Richter & Hampton LLP

FTC Files Action Against Student Debt Relief Enterprise

On June 28, the FTC announced it had filed an action in federal court against a California-based student debt relief enterprise for deceptive practices, including unlawfully obtaining advance fees for debt relief, and...more

Goodwin

CFPB Files Suit Against Student Loan Servicer

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On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§...more

Saul Ewing LLP

CFPB Finds For-Profit Coding School Misrepresented Nature of Its Lending Products and Job Placement Rates

Saul Ewing LLP on

The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer...more

Troutman Pepper

CFPB Enters Consent Order Against BloomTech Over Misleading Income-Share Agreements

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On April 17, the Consumer Financial Protection Bureau (CFPB or Bureau) entered a consent order against BloomTech, a for-profit vocational school, and its CEO, Austen Allred, for deceptive marketing practices related to...more

Cozen O'Connor

The State AG Report – 4.4.2024

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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: •Republican AGs Take Another Bite at the Apple in...more

Troutman Pepper

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

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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

Mayer Brown

Third Circuit Holds Securitization Trusts Can Be Subject to CFPB Enforcement Authority

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In a long-awaited decision, the Third Circuit handed the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) a victory in the National Collegiate Student Loan Trust litigation that could have wide-reaching implications...more

Troutman Pepper

California AG Bonta Upholds $21M Penalty Against Ashford University Over GI Bill Errors

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In a recent ruling, the California Court of Appeal largely affirmed a lower court’s decision from March 2022, finding that Ashford University (now known as University of Arizona Global Campus), an online, for-profit college,...more

Ballard Spahr LLP

Appellate court upholds $21 million judgment against for-profit college regarding unfair competition and false advertising claims

Ballard Spahr LLP on

On February 20, 2024, the California Court of Appeal largely affirmed an eight-figure judgment against Ashford University (“Ashford”), an on-line, for-profit college, and its parent company, Zovio, Inc. (formerly Bridgepoint...more

Ballard Spahr LLP

FTC bans group of student loan debt relief scammers from the debt relief industry

Ballard Spahr LLP on

The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more

Shipkevich PLLC

FTC Files Proposed Orders to Ban Student Debt Relief Companies for Illegal Junk Fees and Upfront Fees

Shipkevich PLLC on

On February 6, 2024, the Federal Trade Commission (“FTC”) filed two proposed stipulated orders with a California federal court to permanently ban student debt relief companies as well as their individual operators. The...more

Goodwin

CFPB and Several States Order Vocational Education Company to Pay Fines, Cancel Loans, and Cease Operations After Allegedly...

Goodwin on

On November 20, 2023, the Consumer Financial Protection Bureau (CFPB) announced that, in conjunction with 11 states, it entered into a stipulated final judgment with a Delaware-based vocational education company that...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 8, 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

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

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On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 24, 2023)

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

Cozen O'Connor

The State AG Report – 5.11.2023

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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: •Department of Energy’s Proposed Regulations for Household...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 27, 2023)

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

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

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Issue 10, 2022

A recent survey by PricewaterhouseCoopers revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Office...more

Cozen O'Connor

The State AG Report – 10.6.2022

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Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Arizona AG Fines Google $85 Million Over...more

Cadwalader, Wickersham & Taft LLP

U.S. Court of Appeals for the Third Circuit Agrees to Hear Interlocutory Appeal in CFPB Enforcement Action against Student Loan...

On April 29, 2022, the U.S. Court of Appeals for the Third Circuit granted a petition for permission to appeal in Consumer Financial Protection Bureau v. The National Collegiate Master Student Loan Trusts filed by defendants...more

Cozen O'Connor

The State AG Report – 4.29.2022

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: BREAKING: DC Court of Appeals Upholds AG...more

Sheppard Mullin Richter & Hampton LLP

CFPB Fines Student Loan Servicer $1 Million to Settle Alleged UDAAP Violations

On March 30, the CFPB settled with a student loan servicer to resolve allegations that the servicer made deceptive statements to student loan borrowers and misrepresented their forgiveness and repayment options, including...more

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