CFPB, Federal Agencies, State Agencies, and Attorneys General
CT federal region court rules stateвЂ™s demands to PHEAA for federal student loan papers preempted by federal legislation
The Connecticut federal region court has ruled in Pennsylvania degree Assistance Agency v. Perez that needs by the Connecticut Department of Banking (DOB) towards the Pennsylvania advanced schooling Assistance Agency (PHEAA) for federal student loan papers are preempted by federal legislation. PHEAA had been represented by Ballard Spahr.
PHEAA services student that is federal created by the Department of Education (ED) underneath the Direct Loan Program pursuant to a contract involving the ED and PHEAA. PHEAA ended up being given an educatonal loan servicer permit by the DOB in 2017 june. Later on in 2017, associated with the DOBвЂ™s study of PHEAA, the DOB asked for documents that are certain Direct Loans serviced by PHEAA. The demand, aided by the ED advising the DOB that, under PHEAAвЂ™s agreement, the ED...