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Student Loans › Debt Collection › Civil Monetary Penalty

Orrick, Herrington & Sutcliffe LLP

New York State enacts private student loan reporting requirements

Orrick, Herrington & Sutcliffe LLP on

On February 14, the Governor of New York signed into law AB 431 (the “Act”), amending Article 9, Sections 901, 902 and 904 of the financial services law relating to private education debt reporting. The Act requires student...more

Goodwin

CFPB Permanently Bans Student Loan Servicer

Goodwin on

On December 4, 2024, the CFPB announced that it entered into a proposed stip​​ulated judgment with a student loan servicer and its owner, resolving allegations that the student loan servicer violated the Telemarketing Sales...more

Goodwin

CFPB, Student Loan Securitizer, and Debt Collector Agree to Combined $21.6 Million Settlement for Alleged Illegal Collection...

Goodwin on

On September 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a settlement and proposed consent judgment with a student loan owner and securitizer, and a separate consent judgment...more

Ballard Spahr LLP

CFPB touts initiatives in “fact sheets”

Ballard Spahr LLP on

To commemorate its fifth anniversary, the CFPB released a series of “fact sheets” touting its initiatives. The “fact sheets” consist of the following: CFPB: By the numbers. The CFPB lists various statistics, such as...more

Goodwin

2Q 2015 Sees Increase in Enforcement Litigation

Goodwin on

For the second quarter of 2015, Consumer Finance Enforcement Watch tracked 56 enforcement actions taken against consumer finance providers, a slight uptick in enforcement activity from the previous quarter’s 46 actions. ...more

K&L Gates LLP

A Hard Rain Has Started to Fall, A Product-by-Product Review of the CFPB’s First 60 Enforcement Actions

K&L Gates LLP on

Between July 17, 2012 and October 9, 2014, the Consumer Financial Protection Bureau brought 60 enforcement actions. According to our unofficial tally, they resulted in settlements requiring the payment of $2.2 billion in...more

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