U.S. regulator to keep an eye on largest student loan servicers
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.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at email@example.com and we can help you.