December 3, 2013
Watchdog Agency to Monitor Largest Nonbank Student-Loan Servicers
The Consumer Financial Protection Bureau will soon oversee one more segment of the student-loan-repayment market, extending its power of enforcement beyond the lenders themselves.
The bureau, a federal watchdog agency, announced on Monday that it had finalized a rule allowing it to supervise the largest nonbank student-loan servicers, which serve as the intermediaries between more than 40 million
The Chronicle Review