CFPB To Handle All Complaints Regarding Student Loans

Law360, New York (March 5, 2012, 6:46 PM EST) -- The nation's new consumer financial protection watchdog on Monday said it would begin taking complaints related to private student loans, adding a fourth industry to the government complaint department.

The Consumer Financial Protection Bureau said that instead of the current system which forces consumers to find out which regulator could handle problems with repaying their student loans or managing a loan that has gone into default, there is now one central agency to handle all complaints.

"The ability to work hard and better yourself through education...
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