Student Loans: New CFPB Initiatives Launched; Changes to Federal Rules Announced

by the Consumer Financial Services Group Student loans were recently in the spotlight with the launch by the Consumer Financial Protection Bureau (CFPB) of a new "Know Before You Owe" project and online tool, and the Obama administration's announcement of proposed federal rule changes...

The CFPB Announces Public Comment Period for Student Loans

by Troutman Sanders CFPB Team On November 16, 2011, the Consumer Financial Protection Bureau (CFPB) announced the next step in its student loan initiative with its Notice and Request for Information Regarding Private Education Loans and Private Educational Lenders . Pursuant to the Dodd-Frank Wall...

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...

CFPB Continues Focus on Student Loans, Opening Complaint and Feedback Tool for Servicemembers and Veterans

by Chais L. Sweat In its continuing effort to ramp up oversight of student loans, on January 30, 2014, the CFPB announced the opening of a new online student complaint system specifically for servicemembers, veterans, and their families to report negative experiences at education institutions and...

CFPB Sues ITT Educational Services for Predatory Lending Practices

by Zafreen J. Husain On February 26, 2014, the Consumer Financial Protection Bureau (CFPB) filed a four-count complaint in the U.S. District Court for the Southern District of Indiana against for-profit college chain, ITT Educational Services, Inc. (ITT), alleging that ITT engaged in predatory student...