student loans

Student borrower protection bill stalls in California


A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.


P2P lenders faces challenges; Student debt relief scams


An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams.


CFPB names student loan servicing exec as ombudsman


Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.


Is it time to worry about mounting credit card debt?


Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.


The Fifth Circuit Finds a Way to Make It Even Harder to Discharge Student Loans in Bankruptcy


On Tuesday, the United States Court of Appeals for the Fifth Circuit released an opinion that, if anything, makes it even more difficult to discharge student loans in bankruptcy. Writing for a three-judge panel in a case called In re Thomas, Judge Edith Jones reaffirmed the court's commitment to the existing case law and added yet another judicial gloss to the words of the statute.


Warren warns consumer, corporate debt could cause next crisis


The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.


What Is "Credit"? AfterPay, Earnin', and ISAs

A major issue in consumer finance regulation in mid-20th century was what counted as “credit” and was therefore subject to state usury laws and (after 1968) to the federal Truth in Lending Act. Many states had a time-price differential doctrine that held that when a retailer sold goods for future payment, the differential between the price of a cash sale and that of credit sale was not interest for usury law purposes.

Can student lending lift BankMobile into the black?


The digital bank has grand ambitions for its new student loan refinancing platform as it looks to finally turn a profit for its parent company, Customers Bancorp.


Cross River poaches execs from student refinancing firm Laurel Road


The execs were hired for their focus on loan origination, portfolio management and securitization.


CU consortium to forgive student loans under CFPB order


Student CU Connect CUSO, which had made high-risk loans to students of the now-bankrupt ITT Technical Institute, agreed to a settlement resulting in an estimated $168 million of loan forgiveness.