Stephanie is CEO of The iA Institute, a digital media company and the most trusted provider of specialized information to the complex debt industry. Our efforts inform, teach, and bring a variety of stakeholders to the table to build a culture of compliance, and to address industry challenges. The iA Institute publishes insideARM.com, runs the Compliance Professionals Forum, and manages the Consumer Relations Consortium. Also, anyone who knows me will immediately tell you that my passion is organization. Literally – I love a clean desk, a well-labeled closet, an elegant process, a useful spreadsheet.
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Yesterday the White House hosted a call together with the Dept. of ED and the CFPB to announce actions to ensure that student loan borrowers are aware of their options for repayment. The actions are wide-ranging, but don’t address material post-default issues.
Yesterday federal judges heard oral arguments in the case of PHH Corporation (PHH) v. CFPB. As insideARM reported previously, the case began in 2014 with a decision by an administrative law judge against PHH for referring its customers (mortgage borrowers) to insurers in exchange for those insurers’ agreement to buy reinsurance from a PHH subsidiary. […]
Yesterday the Senate Banking Committee held a hearing to debate the Effects of Consumer Finance Regulations. Witnesses included: Leonard Chanin, Of Counsel with Morrison and Foerster LLP – his testimony David Hirschmann, President & CEO, U.S. Chamber of Commerce Center for Capital Markets Competitiveness – his testimony Todd Zywicki, Foundation Professor of Law and Executive […]
Yesterday NBCnews.com ran a story by consumer columnist Herb Weisbaum about military families being targeted by debt collectors. This story was actually a little bit different than the norm.
The ACLU and the National Consumer Law Center (NCLC) filed suit yesterday in the US District Court in Massachusetts against the Department of ED under the Freedom of Information Act (FOIA), related to practices affecting student-borrowers. They want to see procedures manuals, which have only been provided with heavy redaction. The question is, why?
Yesterday, the Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint snapshot. This report provides a high-level snapshot of trends in consumer complaints. This is volume No. 9 of the report. A complete copy of the Monthly Complaint Report can be found here. The report begins with a “National Complaint Overview.” The details […]
Yesterday the United States Supreme Court heard oral arguments in the case of Pamela Gillie, et al. (Plaintiff), v. Law Office of Eric A. Jones, LLC, et al. (Defendant). This is the first case in ten years regarding the FDCPA to be heard by the highest court, Ohio state officials are looking to overturn a […]
Last Friday Boston College held a one day conference entitled “Student Debt Crisis: Issues and Solutions.” A keynote address was delivered by Deputy Secretary Sarah Bloom Raskin, U.S. Department of the Treasury. Also on the agenda were three panel discussions: Did privatization of the Student Loan Marketing Corporation (Sallie Mae) Work? The panel included: Moderator: […]
Last week Federal Student Aid (FSA), an office of the Department of ED, released a series of quarterly reports reflecting activity through December 31, 2015. The reports cover the Federal Student Aid portfolio, including information such as outstanding balance by loan type, application submissions, and default status.
Today the Federal Trade Commission (FTC) announced it had added several new entries to its list of banned debt collectors; a list the FTC informally calls “The Debt Collection Hall of Shame.” The FTC first issued the list in February 2015, containing individuals and companies whose behavior was so egregious that courts have banned them permanently […]