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Volume 25 - Number 4

February 17, 2014

Private Student-Loan Servicers Try To Improve, With Mixed Results

Most private student-loan servicers are trying to elevate their game, but are meeting with mixed results so far, the CFPB found. Back in November, CFPB Student Loan Ombudsman Rohit Chopra wrote to a number of private student-loan servicers to learn more about their payment processing policies, ostensibly “in order to inform the CFPB’s market monitoring and consumer education initiatives.” However, any time the bureau finds weaknesses or problems, it is sure to follow up, one way or the other. Among the key findings of the voluntary disclosures...

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