CFPB, Federal Agencies, State Agencies, and Attorneys General
Last week, the CFPB released its twelfth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act.
The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations). … Continue Reading
The CFPB has released its eighth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. (The first two reports were issued by the Federal Reserve Board.)
The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations). … Continue Reading
The CFPB has released its seventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act.
The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations). … Continue Reading
The CFPB released its sixth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act.
The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations). The information in the report is current as of the end of 2016.… Continue Reading
Earlier this week, the CFPB released its sixth annual report on college credit card agreements, together with a new toolkit for schools to use when considering potential co-sponsorships of financial accounts, such as prepaid or checking accounts. The CFPB also announced that it sent warning letters to 17 schools regarding their compliance with the CARD Act requirement to publicly disclose their credit card marketing agreements.… Continue Reading
The CFPB has issued a request for information (RFI) in which it seeks comments on a draft “Safe Student Account Scorecard” to be used by colleges and universities to obtain information from prospective financial institution partners offering financial products to students. The scorecard is intended to be used by schools to obtain information on product features and fees when selecting a partner, such as in a request for proposal seeking a marketing partnership. … Continue Reading
As we reported last month, the Department of Education (DOE), with active CFPB participation, is currently engaged in a negotiated rulemaking process that is considering, among other things, revisions to the DOE’s Title IV’s cash management rules (34 CFR 668, Subpart K), including those relating to acceptable methods of disbursement of eligible Title IV funds to students (34 CFR 668.164). … Continue Reading
The U.S. Government Accountability Office (GAO) has joined the CFPB’s call for more transparency in the area of campus financial products. Last week, the GAO issued a report on college debit cards in which the GAO recommended that Congress consider requiring financial institutions that provide debit and prepaid card services to colleges to publicly disclose their agreements. … Continue Reading
Last week Peter Jackson, the Senior Advisor for Communications at the CFPB, put up a post on the CFPB’s blog describing the CFPB’s “Paying for College” web tools, which are currently in a beta stage and which are still continuing to evolve. In fact, the CFPB invites consumers and “stakeholders” to continue to comment on the site.… Continue Reading
