Sneakiness in the student loan industry

The Consumer Financial Protection Bureau issued a report yesterday noting illegal actions by the student loan servicing industry.

Bureau examiners found that companies engaged in illegal practices like charging unfair late fees and harassing debt collection calls. Bureau examiners also found that some mortgage servicers failed to provide critical consumer protections required by the new CFPB servicing rules that took effect earlier this year.

Examiners also uncovered similar activity in the mortgage servicing industry. To read the full article, click here.

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