A&B Abstract: The Seventh Circuit recently held that the federal Higher Education Act does not preempt state law consumer protection and tort claims where student loan servicers made affirmative misrepresentations to borrowers regarding … [Continue reading] about Student Loan Servicers Remain Liable Under State Law for Affirmative Misrepresentations to Borrowers
A&B Abstract: Effective October 1, 2019, the Maryland Commissioner of Financial Regulation will impose new net worth requirements on licensees. Importantly, Maryland servicing licensees without GSE approvals may not use a line of credit to … [Continue reading] about Maryland Clarifies New Net Worth Requirements for Mortgage Servicers
A&B Abstract: In an effort to position itself as the “Regulator of the Future,” the New York State Department of Financial Services (“NYDFS”) recently launched the Research and Innovation Division, which will be responsible for ensuring that the … [Continue reading] about New York DFS Launches Research and Innovation Division
A&B Abstract: With the January 2021 expiration of the so-called “QM Patch” looming, what courses of action are available to the CFPB? Background One of the most vexing issues currently facing the Consumer Financial Protection Bureau (“CFPB”) … [Continue reading] about The Fate of the QM Patch
A&B Abstract: Maine’s New Student Loan Bill of Rights requires the licensing of any person acting as “directly or indirectly” as a student loan servicer. What might that mean for passive, secondary market investors in student loan … [Continue reading] about Will Maine begin to regulate passive, secondary market investors in student loan debt?