A CFPB Report Card For Education Finance: Part 1

Law360, New York (February 23, 2012, 1:33 PM EST) -- In addition to its broad grant of regulatory powers to the Consumer Financial Protection Bureau, the Dodd-Frank Wall Street Reform and Consumer Protection Act gives some very specific powers and duties to the CFPB. Among the grants of specific powers is the direction by Dodd-Frank § 1077 to the bureau to submit a report to Congress on private education loans and private educational lenders within two years after the enactment of Dodd-Frank, which is July 22, 2012.

Private education loans (“PEL”) are loans for post-secondary educational...
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