On August 21, 2019, President Trump signed a Presidential Memorandum that streamlines the process by which totally and permanently disabled veterans can discharge their Federal student loans (Federal Family Education Loan Program loans, William D. Ford Federal Direct Loan Program loans, and Federal Perkins Loans). Through the revamped process, veterans will be able to have their Federal student loan debt discharged more quickly and with less burden.… Continue Reading
At the end of last week, the Federal Trade Commission (FTC) and the Department of Veterans Affairs (VA) announced that they have entered into a Memorandum of Agreement (MOA) “to provide mutual assistance in the oversight and enforcement of laws pertaining to the advertising, sales, and enrollment practices of institutions of higher learning and other establishments that offer training for military education benefits recipients.”… Continue Reading
The Federal Trade Commission and the Department of Veterans Affairs have signed a “Memorandum of Agreement” (MOA) “to provide mutual assistance in the oversight and enforcement of laws pertaining to advertising, sales, and enrollment practices of institutions of higher learning and other establishments that offer training for military education benefits recipients.”… Continue Reading
In a new blog post, the CFPB provides credit reporting advice to service-disabled veterans who take advantage of federal student loan forgiveness available from the Department of Education for veterans who receive a 100 percent disability rating from the Department of Veterans Affairs. The CFPB encourages veterans who use this benefit to confirm that their student loan servicer is providing correct information about their loan discharge to credit bureaus. … Continue Reading
The CFPB held its fourth webcast in its Military Educator Forum series last week, addressing various consumer issues affecting veterans. Holly Patraeus, head of the Office of Servicemember Affairs, summarized the consumer issues that her office is focusing on: overly aggressive marketing to veterans by certain institutions of higher education to take advantage of the GI bill, student loan debt incurred by veterans, deceptive advertising with respect to home loans for veterans, and pension advance schemes.… Continue Reading
The CFPB is looking for responses by April 12 to two Requests for Information it has filed seeking information on how to build financial capabilities for people with disabilities, veterans in transition, and people who are economically vulnerable.
One RFI requests input from organizations and vendors that have an interest in and/or experience in providing financial coaching, particularly to veterans and economically vulnerable consumers. … Continue Reading
As reported in a recent blog post by Holly Petreaus, Assistant Director of the CFPB’s Office of Servicemembers Affairs, an Executive Order signed last week by President Obama directs the Secretaries of Defense, Veterans Affairs, and Education to consult with the CFPB and the U.S. Attorney General to take immediate action to ensure that service members, veterans, spouses and other family members “have the information they need to make informed decisions concerning their well-earned Federal military and veterans educational benefits.”… Continue Reading