The CFPB has issued a procedural rule that updates its Rules of Practice for Adjudication Proceedings (Rules of Practice) and a request for comment. The procedural rule is effective February 22, 2022. However, the Bureau indicates that it “may make further amendments if it receives comments warranting changes.” Comments must be submitted by April 8,
John C. Grugan
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Delaware federal district court certifies questions regarding CFPB’s enforcement authority and constitutionality to Third Circuit for interlocutory appeal
By John C. Grugan & Thomas Burke on
Posted in CFPB, Regulatory and Enforcement
In CFPB v. National Collegiate Master Student Loan Trust et al., the district court rejected the Trusts’ arguments that they were not “covered persons” under the CFPA and that because the enforcement action was filed by an unconstitutionally structured CFPB, it was void when filed and could not stop the statute of limitations from…
CT federal district court rules state’s demands to PHEAA for federal student loan documents preempted by federal law
By John C. Grugan & Thomas Burke on
The Connecticut federal district court has ruled in Pennsylvania Higher Education Assistance Agency v. Perez that demands by the Connecticut Department of Banking (DOB) to the Pennsylvania Higher Education Assistance Agency (PHEAA) for federal student loan documents are preempted by federal law. PHEAA was represented by Ballard Spahr.
PHEAA services federal student loans made by…