Loan programs

Obama administration plans to revamp how Education Department collects student loans

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After years of criticism from companies it hires to collect student loan payments, the Education Department plans to create a single standardized portal for borrowers to make payments.

Civil liberties and consumer groups sue Education Department for debt collection records

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Federal lawsuit seeks to force the Education Department to provide information about its debt collection practices, including their impact on minority borrowers.

Obama administration finalizes new restrictions on campus debit cards and other financial products

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The new rules include a prohibition on overdraft fees for campus debit cards and a requirement for colleges to publicly disclose agreements with banks and other financial institutions.

Appeals court says borrowers can sue major student loan agency

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In a decision hailed by consumer advocates, a federal appeals court rules that a major student loan agency is not immune from lawsuits.

Consumer Financial Protection Bureau Eyes New Rules for Student Loan Servicers

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Armed with a new report outlining student loan servicing problems, the consumer bureau says it's exploring tougher new regulation of the industry.

Judge approves Corinthian liquidation plan, leaving $4 million for student loan discharge efforts

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Corinthian's court-approved liquidation plan will provide $4.3 million for former students, which they will use to press U.S. to grant more sweeping discharges for students of the defunct for-profit chain.

Obama administration will draft new rules on student debt relief, with focus on college accountability

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Obama administration plans to clarify when defrauded student loan borrowers can have their loans forgiven -- and give the Education Department new tools to go after colleges.

CFPB investigates for-profit Ashford University's lending program

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The Consumer Financial Protection Bureau is launching an investigation into Bridgepoint Education and Ashford University's student lending practices.

Student advocacy groups protest ITT Tech as shareholders hold annual meeting

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Student advocates use the backdrop of ITT Tech's annual shareholders meeting to protest for-profit colleges' approach to loan debt.

CFPB orders loan servicer to pay $18.5M over illegal charges, signals broader crackdown

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Discover Bank agrees to pay $18.5 million in consumer refunds and penalties to resolve charges of illegal loan servicing, as U.S. consumer protection bureau eyes a broader crackdown on an industry it says is rife with problems.

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