Student Loan Debt Archives - Page 2 of 70

July 26, 2023 by Orrick, Herrington & Sutcliffe LLP in CFPB

CFPB, States Sue Company Over Deceptive Student Lending and Collection

On July 13, the CFPB joined state attorneys general from Washington, Oregon, Delaware, Minnesota, Illinois, Wisconsin, Massachusetts, North Carolina, South Carolina, and Virginia in taking action against an education firm...

October 25, 2022 by Glen P. Trudel in CFPB

CFPB Report Finds Some Financial Institutions and Colleges May Be Steering Students to More Expensive Financial Products

On October 13, the Consumer Financial Protection Bureau (CFPB) released its 12th Annual Report to Congress on college credit card agreements. The report reviewed agreements and data covering the over...

October 17, 2022 by Christopher Willis in CFPB

CFPB Focuses on Student Loans — Especially Those Made by Schools — in Latest Supervisory Highlights

On September 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights, focusing on student loan servicing. The report contained findings on federal...

September 15, 2022 by Stefanie H Jackman in State Collection Laws

California Publishes Notice of Proposed Rulemaking Regulating Student Loan Servicing

On August 30, the California Department of Financial Protection and Innovation (CA DFPI) published a notice of rulemaking action, proposing amendments to the Student Loan Servicing Act.According to the CA...

April 18, 2022 by John L. Culhane, Jr. in CFPB

CFPB Enters into Consent Order with Student Loan Servicer to Settle Alleged UDAAP Violations in Connection with FFELP Loans

The CFPB has entered into a consent order with Edfinancial Services, a student loan servicer, to settle the Bureau’s allegations that Edfinancial engaged in deceptive acts and practices in violation of...

January 3, 2022 by Erin Kerr in COVID-19

Federal Student Loan Repayment Paused Additional 90 Days

On December 22, 2021, the White House released this statement indicating that despite “one of the strongest” economic recoveries, federal student loan repayment would be paused an additional 90 days,...

November 9, 2021 by Stephanie Eidelman in Department of Education Collections

The End of an Era: ED Officially Ends all Collection Agency Contracts; Recalls Accounts

We’ve officially reached the end of an era. The Department of Education private debt collection contract is over. Large companies, small companies, all of them. According to sources, during a...

August 9, 2021 in State Collection Laws

California DFPI Enters Groundbreaking Consent Order with NY-Based Income Share Agreements Servicer

SACRAMENTO, Calif. – The California Department of Financial Protection and Innovation (DFPI) today announced it had signed a landmark agreement with New York-based Meratas, Inc., a company that partners with...

May 24, 2021 by Missy Meggison in CFPB

CFPB and FTC Each Issue Fines/Penalties Against Debt Settlement Companies

The CFPB and FTC continue to make clear that their number one mission is protecting consumers, including from entities that claim to offer consumers assistance. On May 17, 2021, both CFPB and...

March 11, 2021 by Missy Meggison in Department of Education Collections

California Joins 11 Other States Seeking an End to Adversarial Relationship With Department of Education

During the Trump administration, the Department of Education (ED) and state regulators developed a frosty relationship. For those who like to think of things in pop culture terms, the connection...

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