CFPB Student Loan Ombudsman Reports
On October 16th, the Consumer Financial Protection Bureau (“CFPB”) Student Loan Ombudsman released a report highlighting complaints by struggling private student loan borrowers who describe being driven into default. CFPB Press Release.
RESTORE Act Funds Available
On October 14th, the Treasury Department announced that eligible states and local governments can now apply for and receive grants to support the recovery of communities affected by the Deepwater Horizon oil spill. Interim Final Rules governing the funding has become effective, allowing the States of Alabama, Louisiana, Mississippi and Texas, along with 23 Florida Gulf Coast counties and 20 Louisiana coastal parishes, to receive funding under the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States (RESTORE) Act. Treasury Department Press Release.