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Consumer Financial Protection Bureau (CFPB) Student Loans Military Service Members

Cooley LLP

Student Loan Servicing Risks Top CFPB Concerns for Servicemembers, Veterans

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On September 24, 2024, the Consumer Financial Protection Bureau (CFPB) Office of Servicemember Affairs released its 2023 annual report highlighting complaint trends submitted by active-duty servicemembers, veterans and...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s annual Servicemember Report focuses on student loans

On September 24, the CFPB published its annual report from the Office of Servicemember Affairs. The report highlighted difficulties that active duty and veteran students have experienced with student loan servicers, including...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report Highlights Student Loan Struggles Facing Servicemembers

On September 24, the CFPB announced the release of its annual report on the most pressing financial concerns facing servicemembers. This edition highlights that servicemembers are encountering student debt-related...more

Ballard Spahr LLP

CFPB: Number of servicemember complaints increased in 2023

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The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of...more

Troutman Pepper

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

Ballard Spahr LLP

CFPB report highlights problems military families have experienced with digital payment apps

Ballard Spahr LLP on

On June 20, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued its Office of Servicemember Affairs Annual Report, which analyzes consumer complaints received from servicemembers, veterans, and their families for...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 1

Student Loan Forgiveness Updates: New Changes Coming in 2022 for Public Service Borrowers - "Borrowers on track for Public Service Loan Forgiveness, a federal student loan forgiveness program for people devoted to careers...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 19

Biden Administration Extends Student Loan Pause Until January 31, 2022 - "The Department believes this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the...more

Goodwin

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

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In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Ballard Spahr LLP

CFPB Student Loan Ombudsman issues sixth annual report

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The CFPB has released the sixth annual report of the CFPB Student Loan Ombudsman containing an analysis of approximately 12,900 federal student loan complaints, 7,700 private student loan complaints, and 2,300 debt collection...more

Ballard Spahr LLP

FTC Releases Agenda And Panelists For Upcoming Military Consumer Financial Workshop

Ballard Spahr LLP on

On July 19, the Federal Trade Commission will hold a workshop in San Antonio titled the “2017 Military Consumer Financial Workshop: Protecting Those Who Protect Our Nation.” The FTC has uploaded an agenda and list of...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 seeking comment on new repayment plan disclosures for federal student loan borrowers

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The CFPB has issued a Request for Information (RFI) seeking comment on a set of prototype disclosures to assist federal student loan borrowers in selecting between alternative repayment plans.  Comments are due on or before...more

Bradley Arant Boult Cummings LLP

CFPB Turns Focus to Student Loans to Servicemembers

The Consumer Financial Protection Bureau (CFPB) recently published a report highlighting the difficulties military personnel encounter when dealing with servicers of student loans....more

Ballard Spahr LLP

CFPB issues new report on servicemember student loans

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A new CFPB report entitled “Overseas & Underserved: Student Loan Servicing and the Cost to Our Men and Women in Uniform” contains the CFPB’s findings regarding student loan servicing problems faced by...more

Ballard Spahr LLP

Has the SCRA been amended for everyone?

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Not only student loan servicers, but all companies, particularly those subject to the CFPB’s supervisory authority, face new compliance risk under the Servicemembers Civil Relief Act (the “SCRA”) as a result of the stunning...more

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