Sentences with phrase «nonbank servicers»
Any nonbank servicer that handles more than one million borrower accounts will be subject to supervisory authority under the rule.
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Today the Consumer Financial Protection Bureau (CFPB) announced they will begin supervising nonbank student loan servicers...
[sociallocker id =» 61867 ″] Nonbank student loan servicers, regardless of size, continue to be subject to the Bureau's enforcement jurisdiction.
This rule makes sure that both bank and larger nonbank student loan servicers are held accountable for how they treat consumers.
The CFPB's rule subjects any nonbank student loan servicer that handles more than one million borrower accounts to CFPB supervisory authority.