The bureau is updating its supervisory exam procedures for private education loans. 01/24/2022 2:30 P.M. 2 minute read The Consumer Financial Protection Bureau will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students, according to a Jan. 20 news release. The bureau’s exam procedures will include […]
The agreements include canceling some student loan balances and a payment to reimburse states for their costs. 01/17/2022 2:45 P.M. 3 minute read Navient announced last week that it has reached agreements with state attorneys general to resolve their previously disclosed multistate litigation and investigations, according to a news release from the company. “The company’s […]
Student loan payments will now be on hold until May 1, 2022, due to ongoing impacts of the COVID-19 pandemic. 12/22/2021 1 P.M. 3 minute read The U.S. Department of Education (DOE) and the Biden administration extended student loan forbearance and interest until May 1, 2022. As COVID-19 cases increase, members of Congress called for […]
An official announcement on the department’s decision on a student loan relief extension is expected later this week. 12/22/2021 7:00 AM 3 minute read The U.S. Department of Education and the Biden administration are reviewing extending the freeze on student loan payments past Feb. 1, Politico reports. As COVID-19 cases increase and members of Congress […]
Members and leadership recently attended meetings with several legislators as ACA prepares for 2022 and legislative and regulatory changes during the second half of the 117th Congress and at the state level. Editor’s note: This article is available for members only. 12/21/2021 2:00 PM 5 minute read ACA International’s advocacy staff and members continue to […]
A California district court dismissed a consumer’s TCPA claims but allowed his FDCPA and RFDCPA claims to proceed because he had sufficient alleged that the defendant was a debt collector. 12/20/2021 4 P.M. Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, No. 1:17-CV-1323-SB, 2021 WL 5936404 (D. Del. Dec. 13, 2021) By […]
The ranking member of the committee is calling for details on the department’s decision she said will impact borrowers and has resulted in job loss in the student loan servicing industry skilled to help with these payments, especially when they resume Feb. 1. 12/17/2021 9:00 A.M. 3 minute read Members of Congress have requested an […]
Ongoing pandemic and new variant cited as reasons for more student loan relief in 2022, when federal student loan payments and interest are set to resume. 12/9/2021 8 A.M. 2 minute read Federal student loan payments are set to resume in February after nearly two years on hold during the COVID-19 pandemic, but members of […]
Cordray, currently at the helm of Federal Student Aid, is on the short list for the Federal Reserve’s top regulatory position. 12/09/2021 10:30 AM 2 minute read There are three candidates for the Federal Reserve’s vice chair for supervision, including Richard Cordray, who in the last year has been at the U.S. Department of Education […]
The announcement about federal student loan contracts with debt collection agencies comes months before payments on hold since last year are set to resume. ACA International spoke with The Wall Street Journal about its implications for members and borrowers. Editor’s note: This article is for members only. […]
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