News Topic: Student lending

The lawsuit against Navient Corp. demonstrates that despite the recent appointment of more industry-friendly regulators in Washington, financial service company still face significant legal threats from state capitals. ... Read full article

The San Francisco bank has pulled in 10,000 new households with loan products geared toward young professionals. ... Read full article

The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million. ... Read full article

Brad Conner, the incoming chairman of the Consumer Bankers Association, says the government's record as a direct student lender leaves much to be desired. ... Read full article

Mike Cagney’s eventual successor will have to decide whether to continue his focus on rapid growth. Also on the table are strategic decisions about when to go public and whether to pursue a bank charter. ... Read full article

Readers opine on Square’s applying for an industrial loan company charter, the Federal Reserve’s role in faster payments, assumptions about operational security, and more. ... Read full article

It sounds like a crazy mix, but Fifth Third says its new app would help young consumers round up debit card purchases and apply the money to their burdensome student debts. The motivation to attract millennials is clear, but will it work? ... Read full article

The largest generation of Americans is set to inherit over $59 trillion in assets, but the federal financial regulators are behind in hiring millennials and focusing on issues of concern to them. ... Read full article

The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank. ... Read full article

Prodigy Finance, a London-based graduate student lender, gets $240 million in new funding round; Bitcoin Cash value soars. ... Read full article

Regulators reach a $183.5 million deal Thursday to get debt relief to 41,000 students of bankrupt Corinthian Colleges. ... Read full article

MPOWER Financing announced a deal Tuesday with Bank of Lake Mills in Wisconsin that will enable the Washington, D.C.-based company to lend to students in all 50 states. ... Read full article

LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks. ... Read full article

The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers. ... Read full article

The Wall Street Journal enumerates the reasons why President Trump needs to fire the CFPB director; the bitcoin market is sharply divided over whether it’s a currency or a store of value. ... Read full article

The old record was set just before the Great Recession, and what may be most remarkable is that it took nearly nine years to reach a new milestone. ... Read full article

President Trump’s aim to scale back financial regulations may make it easier for student loan borrowers to maintain federal class actions. ... Read full article

Navient and Nelnet, the two largest student loan servicers, avoided downgrades on some $18 billion of bonds by extending their maturities. Getting the required consents from investors would normally take ages, but recent innovations speeded the process. ... Read full article