Federal Vs. State: The Fight To Regulate Student Loans
Joseph Cioffi and James SerritellaApril 10, 2018, 10:58 AM EDT
Law360 (April 10, 2018, 10:58 AM EDT) -- Is the federal government acting like an absentee landlord? When it comes to enforcement of student loans, several states seem to think so. Questions surrounding the effect of certain servicing practices on student loan borrowers and consumer-driven lawsuits against servicers selected by the federal government are motivating states to step up activity, in the absence, they say, of appropriate federal action.
States Seek to Take the Lead
State action in the area is not new. Since 2015, states have pushed forward consumer protection laws regarding student...