1. NCHER 2017 Spring Convention
Regulatory Round-Up Part II: Federal Efforts Impacting Student Loan Servicing and Collections
Kelly Lipinski
June 7, 2017

2. FCC and TCPA All About the Message Petition
Technology would deliver a message to a voic box without causing the phone to ring
Seeks confirmation that technology is not an ATDS or a wavier
TCPA is on the radar of House Chair, but modest changes
Definition of ATDS
Revocation of consent
Reassigned number list
Trump administration prioritized reform, Pai is also in favor

3. CFPB: Alternative Data
Request for information regarding the use of alternative data and credit modeling techniques
Defines alternative data by what it is not – not traditional data
Includes trending data, non-loan items, data related to customer stability, and education
Challenges
Lack of privacy
Challenging to dispute accuracy
Fair lending

4. CFPB: Student Loan Servicing Data Monitoring
Request for public comment on student loan servicing monitoring
Require quarterly reports on volume of accounts, account balances, borrower contacts, and IBR
Organized by loan type
Consumer advocates:
Servicing market is opaque
Lawsuits against industry support need for greater monitoring
Similar gathering worked well in mortgage lending
Servicing industry
Request is duplicative and burdensome
Fails to recognize realities of systems, industry and existing reporting requirements

5. CFPB: Supervisory Highlights and Fair Lending Report
April 2017 Report
Failure to correct adverse financial consequences of incorrect enrollment data
Unclear explanation of how interest will be capitalized (final deferral, every deferral)

6. CFPB: Supervisory Highlights and Fair Lending Report
CFPB 2016 Fair Lending Report, April 2017
Increased focus on student loan servicing
Potential steering risks in student loan servicing
Similar concerns noted in P. Ficklin’s December 16, 2016 CFPB Fair Lending blog post, also noted in April 2017 Monthly Complaint Report

7. CFPB: Supervisory Highlights and Fair Lending Report
Whether borrowers who are behind on student loans have more difficulty working out a solution with their servicer because of their race, gender, ethnicity or age
Compare outcomes of all borrowers who are in default on federal and PELs
CFPB has certain servicers in its cross-hairs, but has not named the servicers

8. QUESTIONS?