LexisNexis® Legal Newsroom
Ballard Spahr Alert: CFPB Issues Proposal To Supervise Student Loan Servicers

The Consumer Financial Protection Bureau has issued a proposal to supervise nonbank servicers of private and federal student loans who qualify as "larger participants" in the student loan servicing market. Comments on the proposal will be due 60 days after its publication in the Federal...

Nonbank Student Loan Servicers Now Subject to CFPB Supervision

On March 14, 2013, the CFPB announced a proposed rule to supervise nonbank student loan servicers. Under the proposed rule, the CFPB would have supervisory authority for loan servicers with more than one million accounts - a move that would bring the seven largest nonbank student loan servicers...