The Consumer Financial Protection Bureau made a public inquiry
about student loan servicing practices in May, with a special interest in processes concerning paying back loans in a stressful or harmful way for borrowers.
By Drew Kessler The Consumer Financial Protection Bureau (CFPB) has published a detailed report based on the results of its public inquiry
on student loan servicing practices.
As drafted by Madigan and Senator Daniel Biss, the passage of the bill would create a Student Loan Bill of Rights to protect borrowers from what the lawmakers call «abuses and failures in the student loan industry» after Madigan's investigation
into student loan servicing practices.
We're seeking information from the public about
the student loan servicing practices that may make it harder to get ahead of your debt.
With the recent publicity about the action against Wells Fargo for
its student loan servicing practices, it isn't surprising that the complaints about student loans rose accordingly.
While we do not know the content of the student loan complaints filed with the CFPB, or whether the complaints are fair or accurate, the CFPB has recently launched an investigation into
student loan servicing practices.
Despite getting hit with a lawsuit over
its student loan servicing practices by the Consumer Financial Protection Bureau, Navient's joint book runners Bank of America Merrill Lynch, Barclays, and RBC were able to price an asset backed security offering above the one month Libor.According to a report in Global Capital, Navient's $ 270 million in A1 -LSB-...]
Take the Consumer Financial Protection Bureau (CFPB), currently embroiled in a fight with Navient over
its student loan servicing practices.
In response to our public inquiry into
student loan servicing practices, we received over 30,000 comments from the public, highlighting the costly surprises and runarounds some borrowers face when dealing with their servicers.