Comments on CFPB quarterly data collection on aggregated student loan servicing metrics and borrower outcomes from student loan servicers are due Oct. 10, under a notice published Wednesday in the Federal Register.
The bureau, in its Register posting, stated that the data collection (which it first announced and advertised in early February for a 60-day comment period) is intended to help it carry out the market monitoring goals mandated for the agency under the Dodd-Frank Wall Street and Consumer Protection Act.
The latest 30-day comment period is a continuation of the February information collection, according to the bureau. Like the earlier comment collection, this latest one seeks information in four areas:
- Whether the collection of information is necessary for the proper performance of the functions of the bureau, including whether the information will have practical utility;
- The accuracy of the bureau’s estimate of the burden of the collection of information, including the validity of the methods and the assumptions used;
- Ways to enhance the quality, utility, and clarity of the information to be collected; and
- Ways to minimize the burden of the collection of information on respondents, including by automated collection techniques or other forms of information technology.
Twenty-two comments were submitted in response to the February comment call, with both support and opposition to the data collection.