House Democrats Seek Comprehensive Student Loan Reports Before September Hearing – ACA International
House Financial Services Committee Chairwoman Maxine Waters and other leaders request Consumer Financial Protection Bureau, U.S. Department of Education and student loan servicer reports on practices and regulations.
House committee leaders with oversight of the student loan servicing market are seeking multiple reports from regulators on borrower protections and servicer oversight, according to a news release from the House Financial Services Committee. The committee also requested that federal student loan servicers including Navient, Nelnet and the Pennsylvania Higher Education Assistance Agency provide reports on contracts with the Department of Education and policies and procedures.
House Financial Services Committee Chairwoman Maxine Waters, D-Calif., House Education and Labor Committee Chairman Bobby Scott, D-Va., and House Oversight and Reform Committee Chairman Elijah Cummings, D-Md., submitted one letter to Consumer Financial Protection Bureau Director Kathy Kraninger for reports on its efforts to protect student loan borrowers.