The CFPB has issued the examination procedures it plans to use to make sure private student lenders comply with federal consumer financial laws. The CFPB claims the authority to supervise large banks, as well as nonbanks, that make private student loans. The bureau said the new procedures may be used to examine both types of lenders. “Examiners will be assessing whether student lenders have the appropriate processes in place to prevent harm to borrowers,” the CFPB said. Among the requirements federal consumer financial...