Federal Agency Asks Banks for Straight Talk on Help for Student-Loan Borrowers

By Kelly Field. Federal regulators are keeping up the pressure on banks to do more to help struggling student-loan borrowers. A year ago, Richard Cordray, director of the Consumer Financial Protection Bureau, and Arne Duncan, the secretary of education, convened the nation’s largest lenders and loan servicers to urge them to offer modified repayment plans to borrowers facing default. More...