As student loan debt recently passed $1 trillion, we have the experience helping companies involved in student lending face an array of legal and regulatory challenges. We understand that when defaults rise, so do new and creative challenges to loan enforceability. Our background in consumer litigation allows us to provide the critical guidance that companies involved in student lending need for the coming wave of litigation and regulation.
Student loan litigation takes on many forms — often targeted at reducing the amount of the loan through a collateral attack on the debt. For example, it may take the form of a student loan attacked through a Fair Credit Reporting Act (FCRA) claim, alleging mistakes in the credit reporting on the loan. Or it could take the form of a Telephone Consumer Protection Act (TCPA) claim, seeking to offset the student loan through allegedly improper collection practices. Whatever the form of the claim, our financial services litigation team has the deep experience student loan companies need to defend themselves.
Our financial services litigation team has spent years litigating all forms of individual consumer cases and nationwide consumer class actions — many of which arise in the student loan arena. For example, loan companies consistently and repeatedly call on us to assist in litigation covering the full spectrum of FCRA-regulated activities, including credit reporting and dispute investigation. Similarly, nationwide we successfully litigate Fair Debt Collection Practices Act (FDCPA) and TCPA cases, which have been, and continue to be, a ripe area of student loan-related litigation.
We understand student lenders and student loan litigation. We understand the types of claims student lenders face and how to defend them, and we understand the increased litigation and regulatory risks student lenders face as student loan debt continues to mount nationwide. Our team frequently publishes commentary and articles dissecting the issues confronting the student loan industry at the Consumer Financial Law Services Monitor and in other leading publications, including Law360, Bloomberg Law, and several journals maintained by the American Bar Association.
