CFPB fails to release annual student loan report

|By:, SA News Editor

The Consumer Financial Protection Bureau skips issuing an annual analysis of student-loan borrower complaints this year, the first time since the agency began the analysis in 2012, MarketWatch reports.

The CFPB is required by statute to submit the report on the same day annually to multiple agencies and Congressional committees. Previously, it submitted the report in October.

Without the report, the government may miss early warning signs if disturbing trends in the student-loan industry develop, consumer advocates say.

The Student Borrower Protection Center, an advocacy organization founded by former CFPB staffers, issued its own report, saying that more than 13,000 complaints have been submitted to the CFPB since Sept. 2017, spanning every aspect of the student loan process.

Previously: Mulvaney pushes for stricter oversight of CFPB (April 3)

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