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Consumer Financial Protection Bureau (CFPB) Student Loans Financial Institutions

Mayer Brown

In Another Reversal, the CFPB Dismisses Case Against National Collegiate Student Loan Trusts

Mayer Brown on

On April 28, 2025, the District Court for the District of Delaware granted a joint motion to dismiss with prejudice a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) against the National...more

Sheppard Mullin Richter & Hampton LLP

CFPB Shifts Supervision and Enforcement Priorities; Staff Reduction Stayed by Court

On April 16, the CFPB released an internal memo outlining major shifts in its supervision and enforcement priorities, signaling a retreat from several areas of regulatory activity. The next day, the Bureau issued formal...more

Ballard Spahr LLP

CFPB rescinds enforcement, supervisory priority documents, outlines new priorities for 2025

Ballard Spahr LLP on

The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta....more

Goodwin

CFPB is Proceeding with Some of Its Enforcement Actions, But Most Are Now Stayed or Dismissed

Goodwin on

Although the Consumer Financial Protection Bureau (CFPB or Bureau) voluntarily dismissed a slew of its own enforcement actions following Rohit Chopra’s removal as CFPB Director on January 31, 2025, the Bureau has...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses five enforcement actions voluntarily

On February 27, the CFPB voluntarily dismissed, with prejudice, five additional enforcement actions it filed during the Biden administration: All enforcement actions were filed in federal courts, as opposed to using...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report Highlights Widespread Violations in Student Loan Sector

On December 16, the CFPB released a special edition of its Supervisory Highlights, which detailed findings from the Bureau’s recent examinations of student loan markets. The report identifies a range of violations related to...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 17, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2024 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Cadwalader, Wickersham & Taft LLP

The CFPB's Race Against the Clock

While many Federal agencies, including the prudential bank regulators, have decided to hold back moving forward with initiatives until after the inauguration in January, the Consumer Financial Protection Bureau ("CFPB") has...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter- October 2024 # 4

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB: Number of servicemember complaints increased in 2023

Ballard Spahr LLP on

The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of...more

Troutman Pepper Locke

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

Troutman Pepper Locke on

Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 30, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024 # 3

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Action Against Student Loan Servicer and Securitization Trusts

On May 6, 2024, the CFPB resolved an enforcement action against a group of Delaware student loan trusts and a loan servicer (found here and here) for their failures to adequately respond to borrowers’ requests for relief,...more

Troutman Pepper Locke

CFPB Annual Report Sees Continued Increase in Consumer Reporting Complaints and Complaints Involving Fraudulent Activity, Student...

Troutman Pepper Locke on

On March 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Consumer Response Annual Report, providing a high-level overview of the 1,657,600 consumer complaints received by the Bureau from January 1...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024 # 4

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Wiley Rein LLP

Wiley Consumer Protection Download (January 8, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Ballard Spahr LLP

Dept. of Education issues framework for student loan servicer accountability

Ballard Spahr LLP on

The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

Biden-Harris Administration Amends Higher Education Act to Address College Closures and Withholding Transcripts

Troutman Pepper Locke on

On October 24, the Biden-Harris administration announced amendments to the regulations implementing title IV of the Higher Education Act of 1965 (HEA). According to the fact sheet, the amendments are intended to allow the...more

Ballard Spahr LLP

CFPB Continues to Expand Its Scrutiny of Higher Education with New Report on College and Postsecondary School Tuition Plans

Ballard Spahr LLP on

The CFPB recently released a report regarding higher education tuition payment plans that discusses prevailing practices and highlights certain CFPB concerns regarding consumer impact. The CFPB’s report was based upon (a) a...more

Troutman Pepper Locke

CFPB Moves to Widen Supervisory Scope in Consumer Payments Market

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) has signaled that it intends to propose a rule that would allow it to exercise supervisory authority over a greater number of nonbank financial companies that...more

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