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Consumer Financial Protection Bureau (CFPB) Federal Student Loans Consumer Lenders

Ballard Spahr LLP

CFPB and plaintiffs fully brief motion for preliminary injunction in trade group lawsuit regarding final credit card late fee rule

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The Consumer Financial Protection Bureau (“CFPB”) filed an opposition brief (the “Opposition”) on Tuesday in response to a request by plaintiff trade groups to enjoin the CFPB’s final credit card late fee rule (the “Final...more

Troutman Pepper

CFPB Reports on Student Borrowers’ Experiences During Return to Loan Repayment

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As federal student loan repayments resume after a three-year pause due to the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) published an Issue Spotlight on student borrowers’ experiences, using consumer...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Student Lending

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more

Ballard Spahr LLP

CFPB Report Identifies Challenges Faced by Borrowers in Resumption of Student Loan Payments

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The Consumer Financial Protection Bureau highlighted its observations of the resumption of federal student loan payments by consumers after more than three years of a payment moratorium due to COVID-19 in a report released on...more

Troutman Pepper

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

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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

Ballard Spahr LLP

Dept. of Education issues framework for student loan servicer accountability

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The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB's Monthly Report Focuses on Student Loan Products

The CFPB’s most recent monthly report on consumer complaints spotlights student loans. The report is a high level snapshot of trends in consumer complaints. The Report provides a summary of the volume of complaints by product...more

Ballard Spahr LLP

GAO report highlights gap in SCRA oversight for private student loans; encourages CFPB to seek additional statutory authority

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On November 18, the GAO released a report examining issues related to implementation of the Servicemembers Civil Relief Act (SCRA) interest rate cap for student loans. The Senate Committee on Homeland Security and...more

Ballard Spahr LLP

CFPB Student Loan Ombudsman’s fifth annual report highlights complaints about transition from default to income-driven repayment...

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The CFPB has released its fifth Annual report of the CFPB 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....more

Ballard Spahr LLP

CFPB Student Loan Ombudsman highlights FFELP loans in fourth annual report

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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

Carlton Fields

CFPB Issues Statement Following Reports of Widespread Student Loan Servicing Failures

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The Consumer Financial Protection Bureau (CFPB) recently focused its attention on the student loan industry following alleged widespread servicing failures reported by borrowers and found by the CFPB's examinations and...more

Ballard Spahr LLP

Interagency task force issues recommendations on federal student loan servicing contracts

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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

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