What the Consumer Financial Protection Bureau ... - Venable LLP

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PRIVATE STUDENT LOAN MARKETSTUDY• The CFPB asked the public,students, families, the highereducation community, and thestudent loan industry – bothlenders and servicers – toprovide information on thisfinancial product voluntarily.•Information available to shop forprivate student loans•The role of schools in themarketplace•Underwriting criteria•Repayment terms and behavior•Impact on choice of field of studyand career choice•Servicing and loan modification•Financial education and defaultavoidance• Dodd-Frank requires the CFPBand the Department ofEducation to produce a reportto Congress by July 21, 2012.• The CFPB will also use theinformation it gathers toprioritize its own regulatoryand education work.Request for Information Regarding PrivateEducation Loans and Private EducationalLenders
CFPB SERVICEMEMBER AND VETERANINITIATIVESRepeat Offenders Against MilitaryDatabase (ROAM) - joint effort withstate Attorneys General and theDepartment of Defense to combatscams directed at servicemembers,veterans, and their families. ROAMis intended to track companies andindividuals who repeatedly target themilitary community. Law enforcementofficials across the country, includingstate Attorneys General, UnitedStates Attorneys, local officials, andJudge Advocates (JAGs), will be ableto contribute to and search thedatabase.•Led by Holly Petraeus,Assistant Director forServicemember Affairs•Focused on uniquefinancial challenges ofservicemembers andveterans•Lending•Affinity Programs•Opportunities•Presidential ExecutiveOrder on “GI Bill”
Page 1 and 2: What the Consumer FinancialProtecti
Page 3 and 4: AGENDA• Introduction• The Dodd-
Page 5 and 6: WHAT’S THE COST OF NONCOMPLIANCE?
Page 7 and 8: WHERE DOES THE CFPB FIT IN WITH OTH
Page 9 and 10: DODD-FRANK ACT - HOW WE GOT HERE…
Page 11 and 12: CFPB: OVERVIEW AND STRUCTURE
Page 13 and 14: CFPB: OVERVIEW AND STRUCTURECFPB FO
Page 15 and 16: CFPB: OVERVIEW AND STRUCTURECFPB St
Page 17 and 18: CFPB: FOCUS ON PRIVATE STUDENT LOAN
Page 19 and 20: PRIVATE STUDENT LOAN OMBUDSMAN•Pr
Page 21 and 22: CFPB: FOCUS ON STUDENTS• White Ho
Page 23: CFPB: FOCUS ON STUDENTSStudent Debt
Page 27 and 28: CFPB: Preparing for Supervisionand
Page 29 and 30: WHAT’S HAPPENING AT THE CFPB ONNO
Page 31 and 32: SUPERVISION PROCESS PRINCIPLES• C
Page 33 and 34: CFPB SUPERVISION ANDEXAMINATION MAN
Page 35 and 36: CFPB ENFORCEMENT AUTHORITY• CFPB
Page 37 and 38: CFPB REFERRALS FROM EXAMS• Crimin
Page 39 and 40: WHAT WILL THE CFPB BE LOOKINGFOR?
Page 41 and 42: UNFAIR ACTS AND PRACTICESDEFINEDThe
Page 43 and 44: ABUSIVE ACTS OR PRACTICESDEFINED•
Page 45 and 46: CFPB: NAVIGATING INVESTIGATIONSAND
Page 47 and 48: EARLY WARNING NOTICE OFPOTENTIAL EN
Page 49 and 50: KEY STEPS TO RESPONDING TO ANINVEST
Page 51 and 52: KEY STEPS TO RESPONDING TO ANINVEST
Page 53 and 54: CFPB AND SERVICE PROVIDERS TOCOVERE
Page 55 and 56: WHAT’S NEXT AT THE CFPB ANDPRIVAT
Page 57 and 58: MAY 2012

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