CFPB Looking To Tighten Rules For Student Loan Servicers

Law360, New York (October 16, 2013, 7:09 PM EDT) -- The Consumer Financial Protection Bureau hinted Wednesday that private student loan servicers may in the future face the same scrutiny and a similar regulatory regime as the ones that mortgage servicers will have to comply with beginning next year.

The CFPB's annual report on the private student loan market highlighted complaints the bureau had received from borrowers about problems with making payments, communicating with student loan servicers and modifying the terms of loans. Many of those complaints are similar to what consumers and regulators found plaguing...
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