The California Department of Financial Protection and Innovation (DFPI) recently issued a Notice of Modification to Proposed Regulations and published the newly modified proposed regulations to amend its student loan...more
With historically low unemployment rates, attracting and retaining top talent can be a challenge for employers. To distinguish themselves from the pack, many companies are considering tuition assistance programs to both...more
Several states have recently ramped up their regulation of the student lending industry by passing laws requiring student loan servicers to be licensed in the state in order to operate there. Many of these state licensing...more
As we’ve been tracking for over a year now, courts across the country have addressed the significant question of whether the federal laws governing federally owned or guaranteed student loans preempt state laws placing...more
4/14/2020
/ Debt Collection ,
Department of Education ,
Disclosure Requirements ,
Federal Student Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Private Student Loans ,
Public Service Loan Forgiveness program (PSLF program) ,
State Regulators ,
Student Loan Servicers Regulation ,
Student Loans
Like the country and economy at large, the COVID-19 pandemic is significantly impacting secondary education and the student lending industry. In response to the pandemic, colleges across the country closed their campuses,...more
On January 27, 2020, a federal court of appeals issued a significant decision interpreting the Telephone Consumer Protection Act (commonly referred to as the “TCPA”) in a way that limits the expansive potential liability...more
2/5/2020
/ Appeals ,
ATDS ,
Auto-Dialed Calls ,
Consumer Privacy Rights ,
Debt Collection ,
FCC ,
Prior Express Consent ,
Robocalling ,
Split of Authority ,
Statutory Interpretation ,
Student Loans ,
TCPA ,
Telecommunications
The Seventh Circuit Court of Appeals struck a blow to student loan servicers’ arguments that certain state law claims brought by borrowers are preempted under the Higher Education Act (HEA). In a lengthy opinion issued on...more
7/2/2019
/ Appeals ,
Disclosure Requirements ,
Federal Student Loans ,
Financial Services Industry ,
Government-Guaranteed Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Reversal ,
State Law Claims ,
Student Loans
In courts across the country, servicers are facing off against states and borrowers over the extent to which federal laws preempt state regulation of federal student loan servicers. Numerous states have stepped up their...more
In another move reflecting the Consumer Financial Protection Bureau’s (CFPB) shifting focus on student lending, the CFPB’s Student Loan Ombudsman announced his resignation on August 27, 2018. In his resignation letter, Seth...more