Earlier this month, the Consumer Financial Protection Bureau (CFPB) resolved its long-running lawsuit against Navient Corporation. The enforcement action culminated in a $120 million settlement of which $100 million was in...more
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: •Student Loan Servicer Agrees to Cancel $1.7...more
A bipartisan group of 40 AGs, led by California, Illinois, Massachusetts, Pennsylvania, and Washington, reached a settlement with student loan servicer Navient Corporation and related entities (collectively, “Navient”) to...more
2020 AG Elections- A Primer on 2020 State Attorneys General Elections- •Jerry Kilgore, a Member of Cozen O’Connor’s State Attorneys General Practice and former Virginia AG and Secretary of Public Safety, penned an alert...more
On August 31, 2020, the Tenth Circuit affirmed the United States Bankruptcy Court for the District of Colorado’s holding that certain student loans not guaranteed by a governmental unit may be discharged in bankruptcy....more
California has sued ride-hailing companies Uber and Lyft over alleged violations of a new state law that requires companies to treat gig workers as employees “if they control how workers perform tasks or if the work is a...more
The Middle District of Florida has denied a motion for class certification, finding the proposed class definition would have created a fail-safe class, the class members were not ascertainable, and the plaintiff’s claims were...more
The CFPB has filed an amicus brief in the U.S. Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp. The PA AG’s lawsuit includes claims that Navient violated the...more
Real Property Update - Construction / Statute of Repose: the installation of an attic ladder is an improvement to real property; thus, the ten-year statute of repose of section 95.11(3)(c) applies - Harrell v. The Ryland...more
In 2008, the U.S. Supreme Court in Hall Street Associates LLC v. Mattel Inc. determined that parties may not contractually agree to expand judicial review of arbitral awards beyond the grounds set forth in the Federal...more
On Friday, March 22, a split panel of the Ninth Circuit Court of Appeals found that a company with no direct contractual relationship with independent contractors could be found vicariously liable for the actions of those...more
In a recently published decision, a federal court granted student loan processor Navient’s motion for summary judgment, concluding that a statutory exception that makes calls solely to collect a debt owed to or guaranteed by...more
The White House is reportedly considering easing some tariffs on Chinese markets “as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.” The...more
On second thought, Wall Street does have some questions about the specifics of the pause in the trade war that apparently emerged from the G-20 sidelines this weekend. And when Wall Street has questions—well, not a banner...more
Honda is joining forces with General Motors in an effort to win the race to develop self-driving cars through a $750 million stake in GM’s Cruise Holdings autonomous vehicle unit. The Japanese carmaker plans to contribute a...more
In Harris v. Navient Solutions, LLC, No. 3:15-cv-564 (RNC), 2018 WL 3748155 (D. Conn. Aug. 7, 2018), the United States District Court for the District of Connecticut followed the Second Circuit’s decision in Reyes v. Lincoln...more
Harris v. Navient Solutions, LLC, No. 3:15-cv-546, 2018 WL 3748155 (D. Conn. Aug. 7, 2018) - Plaintiff signed promissory notes to secure student loans in which she provided her telephone number, agreed to update Defendant...more
The Sallie Mae class settlement continues to pay major dividends for Navient Solutions (“Navient”), one of the nation’s most liberal dispensers of automated debt collection phone calls. Back in 2012, Navient—then known as...more
The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more
A sobering look at the post-recession economic recovery shows that while by many measures US economic figures are again strong, the recession caused wounds that “have not fully healed”—including the loss of more than 1.5...more
Uber’s Board of Directors has officially voted to realign the power balance at the company, reducing the clout of ousted CEO Travis Kalanick, and setting the stage for a stock sale to SoftBank. Oh yeah, and prepping for that...more
As we’ve discussed before, the CFPB sued Navient over its student loan servicing practices in the Middle District of Pennsylvania. In doing so, the CFPB followed its strategy of announcing new legal standards by enforcement...more
Wells Fargo has reportedly uncovered another trove of unauthorized accounts, according to a regulatory filing on Friday. The bank also disclosed a CFPB investigation over potential harm to customers over its practice of...more
One of the hallmarks of the CFPB’s enforcement actions has been its use of those actions to announce new legal standards. Navient attacks this enforcement strategy in its motion to dismiss a recent case brought against it by...more
Navient Corp., facing CFPB allegations that it didn’t live up to its promises of helping its 12 million customers manage their loans, now has a two-faced problem after a recently filed motion to dismiss in which it argued...more