Private Student Loan Compliance: Understanding the Requirements and Expectations

With the rising concern over the growing student debt problem, private student educational lending is under great regulatory scrutiny than ever. In addition to Regulation Z and the Interagency Guidance, the CFPB continues to find UDAAP violations in the student loan industry. A strong compliance program that addresses the laws, regulations and official guidance is essential. The need for sound and practical knowledge of these rules and expectations is great. We would like to help.

We will address the compliance needs of a student loan program from marketing to origination through servicing and default/collections issues. The webinar provides clear guidance on the three sets of disclosures required, how to handle the Ability-to-Repay considerations, the Right to Cancel provisions and much more. From there, we will focus on specific problems and common violations including those areas that could represent Fair Lending or UDAAP issues.

Please join Coppelia Padgett as she provides a comprehensive, detailed overview of the regulations and challenges faced by private student educational lenders.

WHAT YOU'LL LEARN

The focus of this webinar is the special requirements of Regulation Z (TILA) and the Interagency Guidance. It will also cover CFPB examination manual procedures and specific cases studies involving student loans and UDAAP fines. The emphasis is on practical advice so institutions can understand the following:

• Special marketing & advertising limitations for student loans
• Co-branding and endorsed lender arrangements
• The three sets of required disclosures: application, approval and final disclosures
• The self-certification form requirement
• Reasonable assumptions about the borrower’s ability to repay
• The 30-day acceptance window & permitted changes
• The right to cancel & loan funds disbursement
• Servicing issues including allocating under and overpayments received
• In-school deferment and repayment status processing
• What are borrower benefits and why you need to know
• Borrower communications and repayment options for private education loans
• A checklist for reviewing student loan compliance

YOUR CONFERENCE LEADER

Your conference leader for “Private Student Loan Compliance: Understanding the Requirements and Expectations” is Coppelia Padgett. Ms. Padgett brings 25 years of financial institution experience covering numerous facets of financial institution operations. She began her career as a compliance specialist for the FDIC working primarily out of Los Angeles. She left the FDIC to found the Triac Company in 1992. This consulting firm grew to serve the compliance needs of hundreds of financial institutions in Los Angeles and around the United States. Ms. Padgett currently works as an independent contractor and subject matter expert for leading regulatory and risk management firms from around the country. She graduated magna cum laude from the University of Tulsa with a degree in economics.