Beyond Licensing: Emerging Issues in Student Lending
Student Loan Servicing Alliance Annual Meeting
San Antonio, TX
Susie Chylik and Kelly Lipinski (Cleveland) co-presented “Beyond Licensing: Emerging Issues in Student Lending” at the Student Loan Servicing Alliance Annual Meeting in San Antonio on May 15. Susie and Kelly discussed legal issues and trends that are likely to affect the student lending industry beyond the importance of obtaining student loan servicing licenses. The presentation addressed state law requirements that servicers should anticipate once they obtain a license. They explored practical issues when servicing a servicemember’s loan, communicating payoff balances, and credit reporting. The presentation also discussed recent FTC enforcement actions and priorities, including what this means for student loan servicers. Finally, they identified and summarized various state laws that have been enacted and introduced in the wake of the California Consumer Privacy Act, including comparing and contrasting the scope and coverage of these laws.