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U.S. regulator to keep an eye on largest student loan servicers

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By Elvina Nawaguna

WASHINGTON (Reuters) - The U.S. consumer financial watchdog will soon start supervising the seven largest student loan servicers to ensure they treat borrowers fairly and comply with federal consumer laws, the agency said on Tuesday.

The Consumer Financial Protection Bureau has taken a broad interest in the burden of student loan debt, which it says now totals $1.2 trillion and saddles many borrowers with debt that takes years to repay.

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