Consumer Financial Protection Bureau Director Kathy Kraninger’s revelation that student loan servicers have been refusing to cooperate with the CFPB, citing policy guidance issued by the Department of Education, is not sitting well with Democrats. The guidance stipulates that servicers can withhold certain student loan information to protect the privacy of the borrowers, and Kraninger says they have.
Sens. Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio) and a host of other Democrats called the news “disturbing” in a letter to top executives at three such student loan servicers.
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