This is the latest update from Washington, designed to keep NACBA members informed about significant and relevant activity on the part of Congress, regulatory agencies and interest groups/think tanks. Feedback should be directed to Krista.DAmelio@NACBA.com
ON THE HILL On January 8, Senator John Cornyn (R-TX) introduced S. 2282- Bankruptcy Venue Reform Act of 2018. This bill would amend title 28, United States Code, to modify venue requirements relating to bankruptcy proceedings.
IN THE AGENCIES On January 11th by the order of Judge Thomas Wheeler, the Department of Education (ED) completed the long-awaited corrective action for the Private Debt Collection Unrestricted Contract Award. According to several sources, letters have been sent to all offerors.
FROM THE INTEREST GROUPS The Institute for College Access and Success (TICAS) released a latest analysis of the Department of Education’s announcement on partial relief for mistreated student loan borrowers. This information was released as the Department began the second negotiated rulemaking session on the borrower defense rule on Monday, January 8, 2018.
OTHER Read this interesting piece by ProCon.org that provides opinions on whether or not student loan debt should be easier to discharge in bankruptcy.