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Student Loans Regulatory Reform

Ropes & Gray LLP

Effect of Changes to Title IV of the Higher Education Act in the One Big Beautiful Bill

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The “One Big Beautiful Bill Act” (the “Act”), which recently became law, makes significant changes to federal financial aid programs administered under Title IV of the Higher Education Act of 1965 (“HEA”). These changes...more

Brownstein Hyatt Farber Schreck

New Era in Higher Education: Key OBBBA Changes and the Trump Administration’s Policy Shift

On July 4, President Trump signed the landmark One Big Beautiful Bill Act (H.R.1, OBBBA) into law, ushering in a sweeping set of higher education reforms. The final bill introduces a new student loan repayment...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025 # 2

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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

Insights from the CFPB’s Latest Report on Credit Invisibility

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n June 23, the Consumer Financial Protection Bureau (CFPB or Bureau) released an update to its 2015 report on Americans who did not have a credit record (credit invisibles) or who had insufficient credit history to have a...more

Brownstein Hyatt Farber Schreck

Chairman Cassidy Unveils Senate HELP Committee Budget Reconciliation Bill

On Tuesday, June 10, the Senate Health, Education, Labor and Pensions (HELP) Committee released the text of its budget reconciliation bill, accompanied by a section-by-section summary and a one-pager. This release follows the...more

Troutman Pepper Locke

Proposed New York FAIR Business Practices Act Aims to Expand Consumer Protections Against Unfair, Deceptive, or Abusive Practices

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On March 13, New York State introduced proposed legislation titled the Fostering Affordability and Integrity Through Reasonable Business Practices Act (FAIR Act). The proposed legislation seeks to broaden the scope of...more

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

Troutman Pepper Locke

U.S. Department of Education to Resume Federal Student Loan Collections

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On April 21, the U.S. Department of Education announced that its Office of Federal Student Aid (FSA) will resume collections on defaulted federal student loans starting Monday, May 5th. This decision ends a collections pause...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

Brooks Pierce

Trump Administration’s Efforts to Dismantle the U.S. Department of Education

Brooks Pierce on

Executive Order Asserting that “the experiment of controlling American education through Federal programs and dollars” has “plainly failed our children,” on March 20, 2025, President Trump signed an Executive Order directing...more

Snell & Wilmer

Trump Signs Order Aimed at the Department of Education – Potential Impacts on Schools, Students, and the Future of Federal...

Snell & Wilmer on

On March 20, 2025, President Donald Trump signed an executive order initiating the process to dismantle the U.S. Department of Education (DOE) — a historic move that could fundamentally reshape oversight of education in the...more

Parker Poe Adams & Bernstein LLP

Impacts on K-12 and Higher Education After Trump Signs Executive Order Aimed at Eliminating the Department of Education

In a move aimed at delivering on one of his most ambitious campaign promises, President Donald Trump signed an executive order on Thursday to eliminate the U.S. Department of Education (DOE) and shift authority over education...more

Allen Matkins

Bipartisan Support For A CTA Pause And Livy Explains The Inequity Of Student Loan Forgiveness

Allen Matkins on

As the courts wrestle with various challenges to the Corporate Transparency Act, Congress is also taking an interest.  Last week, the House of Representatives passed H.R. 736 which would allowcompanies formed or registered...more

Venable LLP

California DFPI Seeks Feedback on Expanding Registration and Reporting to New Sectors

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The California Department of Financial Protection and Innovation (DFPI) is inviting stakeholders to suggest new financial service industries that may need registration and reporting requirements under the California Consumer...more

Orrick, Herrington & Sutcliffe LLP

DFPI modifies Student Loan Servicing Act proposal

On January 6, the California Department of Financial Protection and Innovation issued modified proposed regulations under the Student Loan Servicing Act (Act)...more

Ballard Spahr LLP

Secretary DeVos withdraws Dept. of Education’s policy direction for student loan servicing

Ballard Spahr LLP on

In a memorandum issued last week, U.S. Department of Education Secretary Betsy DeVos withdrew various memoranda issued by the Obama Administration ED Secretary and the ED’s Financial Student Aid Division (FSA) that provided...more

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