Law360, Washington (June 08, 2012, 4:46 PM ET) -- Lawmakers urged the U.S. Department of Education and the Consumer Financial Protection Bureau on Thursday to monitor the terms of bank-issued debit cards used to distribute federal aid to college students, saying they often resulted in unreasonable fees being levied against students already facing massive loan debt.
In a pair of letters sent by Sen. Dick Durbin, D-Ill., and Rep. George Miller, the senior Democrat on the U.S. House of Representatives Committee on Education and the Workforce, the lawmakers warned that unwieldy fees attached to the...
Lawmakers Urge CFPB to Examine Student Debit Card Abuses
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