Brian G. Cameron has been appointed private education loan ombudsman at the Consumer Financial Protection Bureau (CFPB), filling a post that has been vacant since the resignation nearly one year ago by the former ombudsman. […]
A credit union service organization must forgive loans worth $168 million under the terms of a settlement that spans 44 states reached with the federal consumer financial protection agency, the agency announced Friday. The Consumer […]
A student loan servicing company will pay a $3.9 million fine for engaging in unfair practices by failing to adjust principal balances of student loans, the federal consumer financial protection agency said Wednesday. In a […]
A rolling three-month comparison of consumer complaint volumes shows a 26% increase in the number of complaints about prepaid cards and notable declines in the number received regarding student loans and consumer credit reporting, a […]
An analysis utilizing monthly consumer credit data shows the majority of student loan payoffs occur early and coincide with large payments and balance reductions on other student loans and revolving credit products, the Bureau of […]
A dual fine totaling $6.5 million, and an order to “end these illegal servicing practices” was levied on Citybank, N.A. by the Consumer Financial Protection Bureau (CFPB) Tuesday over student loan servicing. According to the […]
Complaints by student loan borrowers have driven actions that have produced more than $750 million in relief for student loan borrowers and strengthened the student loan repayment process for millions more, the Consumer Financial Protection […]
Alleging that student loan borrowers were illegally sued for private student loan debt that the companies which made the loans couldn’t prove was owed or was too old to sue over, the Consumer Financial Protection […]
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 […]
A lawsuit against the nation’s largest servicer of federal and private student loans – charging the group “systematically and illegally” failed borrowers at every stage of repayment – has been filed by the CFPB, seeking […]
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