{"id":38335,"date":"2023-03-15T18:20:49","date_gmt":"2023-03-15T22:20:49","guid":{"rendered":"https:\/\/d56fg8tfg.fitnews.club\/finance\/cfpb-releases-exam-procedures-for-student-loans\/"},"modified":"2023-03-15T18:20:49","modified_gmt":"2023-03-15T22:20:49","slug":"cfpb-releases-exam-procedures-for-student-loans","status":"publish","type":"post","link":"https:\/\/d56fg8tfg.fitnews.club\/finance\/cfpb-releases-exam-procedures-for-student-loans\/","title":{"rendered":"CFPB Releases Exam Procedures for Student Loans"},"content":{"rendered":"
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CFPB Examiners to Verify that Student Lenders are Following the Law<\/strong><\/em><\/p>\n

WASHINGTON, D.C. \u2013 The Consumer Financial Protection Bureau (CFPB) published the procedures it will use in examining student lenders. The Student Lending Examination Procedures are an extension of the CFPB\u2019s General Supervision and Examination Manual and will be used as a field guide by CFPB examiners to ensure that private student lenders comply with federal consumer financial laws.<\/p>\n

\u201cFor many borrowers, a student loan may be their first major financial decision,\u201d said CFPB Director Richard Cordray. \u201cWith student debt topping a trillion dollars, we will be working to ensure consumers are treated fairly and lenders are held accountable.\u201d<\/p>\n

The Student Lending Examination Procedures can be found here: https:\/\/files.consumerfinance.gov\/f\/201212_cfpb_educationloanexamprocedures.pdf<\/span> <\/svg><\/a><\/p>\n

The CFPB has the authority to supervise large banks, as well as nonbanks, that make private student loans, and the procedures released today may be used to examine both types of lenders. Examiners will be assessing whether student lenders have the appropriate processes in place to prevent harm to borrowers. Examiners will be looking to verify that lenders are complying with requirements of federal consumer financial law, including:<\/p>\n