Education Lending

Education LendingAttorneys in the Firm's Education Lending practice area provide transactional, regulatory, compliance, and operations support services to a variety of clients, including financial institutions, state education financing authorities, finance companies, for-profit education institutions, education loan servicers, and others, in connection with various aspects of private education lending matters. We have experience assisting clients with a variety of private education loan products and issues, including drafting loan notes and credit agreements, disclosures and program guidelines; negotiating agreements and outsourcing arrangements with loan marketing, origination, and servicing vendors; creating online application systems; reviewing marketing materials for all types of media; analysing state licensing requirements; reviewing borrower benefit programs for compliance and UDAP/UDAAP risks; and preparing clients for CFPB education lending and servicing examinations. We also assist federal loan servicers in their relationships with consumer protection regulators. We advise clients with questions concerning (for example):

  • Bank Secrecy Act
  • CAN-SPAM Act
  • Dodd-Frank Wall Street Reform and Consumer Protection Act (in particular, CFPB UDAAP requirements)
  • Electronic Fund Transfer Act (EFTA) and CFPB Regulation E
  • Electronic Signatures in Global and National Commerce Act (ESIGN)
  • Equal Credit Opportunity Act (ECOA) and CFPB Regulation B
  • Fair Credit Reporting Act (FCRA) and CFPB Regulation V
  • Fair Debt Collection Practices Act (FDCPA) and state collection practices acts
  • Federal Trade Commission (FTC) Act
  • FTC Credit Practices Rule
  • Gramm-Leach-Bliley Act (GLBA) and the Privacy and Safeguards Rules
  • Military Lending Act (MLA)
  • OFAC/USA PATRIOT Act
  • Servicemembers Civil Relief Act (SCRA) and state laws protecting members of the military and their dependents
  • Telemarketing and Consumer Fraud and Abuse Prevention Act and the Telemarketing Sales Rule (TSR)
  • Telephone Consumer Protection Act (TCPA) and implementing Federal Communications Commission (FCC) regulations
  • Truth in Lending Act (TILA) and CFPB Regulation Z, including disclosure requirements and substantive restrictions for private education loans under the Higher Education Opportunity Act (HEOA), and comparable state laws and regulations
  • Uniform Electronic Transactions Act (UETA)
  • State consumer credit laws and installment sales laws
  • State direct loan laws, including usury statutes, interest statutes, finance lender laws, and small loan laws