Three Republican House members sent a letter last week to CFPB Director Chopra raising questions about the Bureau’s relationship with state attorneys general and its interpretive rule issued in May 2022 regarding the...more
The CFPB has issued a procedural rule that updates its Rules of Practice for Adjudication Proceedings (Rules of Practice) and a request for comment. The procedural rule is effective February 22, 2022. However, the Bureau...more
In CFPB v. National Collegiate Master Student Loan Trust et al., the district court rejected the Trusts’ arguments that they were not “covered persons” under the CFPA and that because the enforcement action was filed by an...more
The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more
11/4/2016
/ Arbitration Agreements ,
Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Educational Institutions ,
Federal Arbitration Act ,
Federal Student Loans ,
Higher Education Act ,
Loans ,
Misrepresentation ,
Program Participation Agreements (PPAs) ,
Title IV
The U.S. Department of Education has issued a proposed rule that includes a ban on mandatory pre-dispute arbitration agreements by schools receiving Title IV assistance under the Higher Education Act (HEA) and a new federal...more
The U.S. Department of Education is creating a Student Aid Enforcement Unit to respond to allegations of illegal actions by higher education institutions. The announcement closely follows the Department's and Federal Trade...more