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CFPB Finds Student Loan Servicers Engaged in Deceptive Practices

October 29, 2014
Loans
student loan
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Certain student loan servicers are engaging in deceptive practices that result in preventable late fees and impede borrowers from claiming tax deductions from their student loan payments, according to a report by the Consumer Financial Protection Bureau (CFPB).

Here’s a closer look at several of the CFPB’s most significant findings on illegal student loan servicing practices.