CFPB Finds Student Loan Servicers Engaged in Deceptive Practices

Loans
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student loan

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.