The U.S. Education Department is preparing today to restore banks’ access to a federal database of millions of student loans, after shutting it down two weeks ago out of concern over potential abuses. The database, known as the National Student Loan Data System, was put off-limits to lenders when the department acknowledged finding 261 cases over the past four years in which lenders or marketing companies were suspected of using the system to improperly collect private information on potential borrowers. —Paul Basken
April 30, 2007
Education Department to Restore Lenders' Access to Student-Loan Database
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