The Federal Trade Commission is investigating allegations of deceptive marketing by student-loan companies, the commission’s chairwoman said today.
In a letter sent to Rep. George Miller, the California Democrat who requested the investigation, Deborah P. Majoras, the chairwoman, said her agency was “actively assessing” whether lenders had violated any laws, and was reviewing marketing letters provided by the congressman’s staff.
“I agree that a strong and effective response is needed to prevent such conduct from causing harm to consumers,” she wrote.
The FTC and several other agencies regulate private loans. Federally guaranteed loans are regulated by the Education Department. —Kelly Field
