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Tag Archives: Student Lending

The “Payback Playbook”: CFPB Calls for Comments on Student Loan Communication Initiative

Posted in CFPB, Student Lending

On April 28, 2016, the CFPB released its “Payback Playbook” initiative proposal, which concerns loan servicers laying out student loan repayment options in communications with borrowers in order to “reduce defaults, improve borrower outcomes, and spur innovation.”  The Bureau is requesting comments in response to its proposed templates (or “Payback Playbooks”), which would require, inter… Read More

CFPB’s Two-Year Policy Priorities

Posted in Arbitration, Auto Lending, CFPB, Mortgage, Student Lending

On Thursday, February 25, 2016, the CFPB held a Consumer Advisory Board meeting in which it outlined its forward-looking supervision and enforcement priorities. After the Board meeting, the CFPB published a summary of these priorities that promises the following, among other things, during the next two years: Rulemakings related to arbitration and debt collection; Rigorous… Read More

Supervisory Highlights, Fall 2015: Totally Sanitized Limerick Edition!

Posted in CFPB, Mortgage, Student Lending, Supervisory Highlights

Don’t know about you, but we’ve been dreaming about wrapping ourselves in a big cabled sweater, drinking a pumpkin-spiced beverage and cozying up to the Fall 2015 issue of Supervisory Highlights. Usually haiku is how we roll, but haiku really evokes spring, and in honor of everyone’s favorite season of decay, we’ve decided to give… Read More

CFPB Lays Down the Gauntlet on Student Loan Servicing

Posted in CFPB, Student Lending

The CFPB and the U.S. Departments of Education and the Treasury have released a Joint Statement of Principles on Student Loan Servicing, accompanied by a CFPB report.  In the CFPB’s press release announcing the publications, the Bureau expressed “concern” about what it calls “widespread servicing failures reported by student loan borrowers.”  It vowed to “stamp[]… Read More

CFPB Launches Official Inquiry Into Student Loan Servicing

Posted in CFPB, Student Lending

The CFPB has announced an inquiry into student loan servicing practices.  The inquiry includes a formal Request for Information from borrowers, institutions, financial service providers, and others, and call to borrowers to share their stories more informally.  Comments on the RIN are due on or before July 13, 2015.  Director Cordray, in prepared remarks at… Read More

Fall 2014 Supervisory Haiku-lights

Posted in CFPB, Mortgage, Student Lending, Supervisory Highlights

A few times a year, CFPB Supervision publishes Supervisory Highlights, which provides general information about examination findings without identifying specific institutions. We know you readers are busy—and literary!—so below we present key takeaways from Supervision’s Fall 2014 report in one of our favorite poetic forms:  haiku. student lenders must allocate payments fairly not to increase… Read More

Animal House Today, Mom’s House Tomorrow: The CFPB Reports on Struggling Private Student Loan Borrowers

Posted in CFPB, Student Lending

It’s no secret that many recent graduates have collected their diplomas only to face the one-two punch of a lean job market and mounting student loan debt. Graduation once meant independence, but for more students these days, it means crashing with their parents to make ends meet. According to the CFPB Student Loan Ombudsman’s Annual… Read More