CFPB’s Advisory Opinion on Fair Lending Laws Signals Chopra’s Regulatory Strategy

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Advisory opinion outlines Equal Credit Opportunity Act protections for borrowers. The bureau, under the leadership of Director Rohit Chopra, will be “dramatically increasing its issuance of guidance.” 05/16/2022 9:45 A.M. 3.5 minute read The Consumer Financial Protection Bureau issued an advisory opinion on protections under the Equal Credit Opportunity Act last week, a signal that […]

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Federal Student Loan Reform Needed

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ACA International advocated on student loan servicing changes in a letter to Capitol Hill as discussions on payment forgiveness continue. Editor’s note: This article is available for members only. 05/05/2022 5:30 P.M. 3 minute read Key Takeaways: These broad blanket forgiveness policies the administration is working to implement are not tailored only to those in […]

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Education Department Announces Changes to Income-Driven Repayment Plans and Student Loan Forgiveness

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The changes, which include oversight of loan servicers and tracking income-driven repayment plan procedures, will begin immediately. Borrowers will see the impact later this year, according to the department. 04/21/2022 2:45 P.M. 3.5 minute read The U.S. Department of Education (DOE) is taking “immediate corrective actions” for public service loan and income-driven repayment (IDR) forgiveness, […]

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From the Web: ‘Cancelling Student Debt Would Add to Inflation’

 

As the May 2 end to the federal student loan payment moratorium approaches, an independent public policy group found the question of cancelling federal student loan debt yields tough answers. 03/10/2022 1:00 P.M. 2 minute read A new report from the Committee for Responsible Federal Budget shows cancelling the $1.6 trillion in federal student loan […]

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