CFPB examiners report deceptive practices and compliance violations in the student loan market
By EsqSocial Corporation 24/12/24
On December 16, the CFPB released its Supervisory Highlights: Special Edition Student Lending, Issue 36 (Winter 2024) which examined federal and private student loans and identified alleged violations in student loan refinancing, private lending and servicing, debt collection, and federal loan servicing. According to the report, the student loan market has total outstanding balances of approximately $1.77 trillion. The Bureau discussed risks associated with refinancing federal student loans...
By: Orrick, Herrington & Sutcliffe LLP