Posted in consumer protections, Financial, Legal News, Student Loan Debt

Consumer agency cites problems with student loan servicing – Dispatch Times

student loan debt

The USA consumer watchdog reported widespread failures in the servicing of student loans on Tuesday and urged new rules to protect borrowers.

“Federal agencies have entered into numerous recent enforcement actions from payment allocation problems and billing errors, to mistreatment of service members, to illegal collections practices”, Treasury Department Deputy Secretary Sarah Bloom Raskin said in a speech Monday.

via Consumer agency cites problems with student loan servicing – Dispatch Times.