The Consumer Financial Protection Bureau (CFPB) signaled it might put together a rule to protect student loan borrowers as it released a report outlining loan servicing failures.
In compiling the report, the bureau used comments elicited from stakeholders who identified a range of student loan servicing practices that could pose risks for borrowers seeking to repay student debt.
More than 41 million Americans owe student loan debt, and the volume of outstanding federal and private student loan debt has more than doubled in less than a decade to a level exceeding $1.2 trillion. The CFPB says student loans make up ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.