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Student Loans Regulatory Requirements Consumer Financial Products

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

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 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

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

Hudson Cook, LLP

Massachusetts Issues Student Loan Servicing Conduct Rules

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In last month's issue of Insights we discussed a new licensing regime in the Commonwealth of Massachusetts specific to student loan servicers. As of the publication date of that article the rules such servicers must follow...more

Hudson Cook, LLP

Massachusetts About to Join the Ranks of States Licensing Student Loan Servicers

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The Commonwealth of Massachusetts is aiding student loan consumer protection efforts, and is ramping up the level of scrutiny applied to student loan servicers. Effective July 1st, it will join a growing list of states that...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

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In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Ballard Spahr LLP

Colorado Issues Student Loan Servicer License Applications

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The Colorado Attorney General’s Office recently published licensing applications for entities that are engaged in servicing student loans owed by Colorado residents....more

Ballard Spahr LLP

Final regulations implementing New York student loan servicing law effective Oct. 16

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Final regulations adopted by the New York Department of Financial Services (NYDFS) to implement the state’s new student loan servicing law became effective on October 16, 2019 upon the publication by the NYDFS of a Notice of...more

Ballard Spahr LLP

NYDFS Student Lending Initiative

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New York Department of Financial Services (NYDFS) Superintendent, Linda A. Lacewell, recently wrote an Opinion Article in the New York Daily News, addressing the student lending industry. According to Lacewell, the Trump...more

Ballard Spahr LLP

NY Dept. of Financial Services issues proposed student loan servicer regulations

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The New York Department of Financial Services (NYDFS) has issued proposed regulations to implement the legislation enacted in April 2019 that requires servicers of student loans to be licensed, imposes servicing standards,...more

Ballard Spahr LLP

Maine Enacts Student Loan Servicing Law

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We can add Maine to the list of states to have enacted a “Student Loan Bill of Rights” that requires student loan servicers to be licensed. On June 20th, Maine Governor Janet Mills signed into law LD 995, “An Act To Establish...more

Ballard Spahr LLP

New York passes sweeping legislation impacting student loan servicers

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On April 1, 2019, New York enacted Article 14-A, governing servicers of student loans owed by New York residents, in connection with New York’s fiscal year 2020 budget....more

Ballard Spahr LLP

Student loan servicers’ obligations under Maryland’s “Ombudsman Act” now in effect

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On September 28, 2018, the Maryland Commissioner of Financial Regulation issued a notice advising companies servicing student loans of Maryland borrowers to provide their contact information to the state’s new Student Loan...more

Ballard Spahr LLP

Washington D.C. publishes final student loan servicing regulations

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The District of Columbia Department of Insurance, Securities, and Banking (DISB) published its final rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. ...more

Ballard Spahr LLP

Treasury Recommends Sweeping Regulatory Changes for Consumer Financial Services

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A report issued last week by the U.S. Treasury Department recommends sweeping regulatory changes intended to promote innovation in the consumer financial services market, reduce regulatory burdens on consumer financial...more

Ballard Spahr LLP

California Releases Second Revised Student Loan Servicer Regulations

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The California Department of Business Oversight (DBO) has published a second round of modifications to its proposed regulations under the State’s Student Loan Servicing Act.  As previously covered, the DBO published its first...more

Ballard Spahr LLP

California Releases Revised Student Loan Servicer Regulations

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The California Department of Business Oversight (DBO) has published modifications to its proposed regulations under the State’s Student Loan Servicing Act.  As previously covered, the DBO published notice of its initial...more

Ballard Spahr LLP

D.C. issues second revision to student loan servicing regulations

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The District of Columbia Department of Insurance, Securities, and Banking (DISB) has issued a second round of revised emergency and proposed rules under the Student Loan Ombudsman Establishment and Servicing Regulation...more

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