Student Borrower Enrollment in Repayment Plans on CFPB Radar
December 2, 2013
Rohit Chopra, CFPB assistant director and student-loan ombudsman, hinted recently that borrower enrollment in repayment programs by servicers might be a likely focus of bureau examinations and investigations once the agencys student-loan servicer larger participant rule is finalized. In comments before the Federal Reserve Bank of St. Louis, Chopra noted some similarities between problems in the mortgage market and the student-loan market including breakdowns in the servicing sector. The CFPB has...