Scrutiny for Loan Servicers

By Michael Stratford. Federal regulators next year will begin closer monitoring of companies that process student loan payments for the vast majority of borrowers to make sure they are following the law and not misleading consumers. Under a rule proposed earlier this year and set to be finalized Tuesday by the U.S. Consumer Financial Protection Bureau, federal regulators will have the authority to oversee a much larger swath of student loan servicers. Read more...