The Consumer Financial Protection Bureau has issued a proposal
to supervise nonbank servicers of private and federal student loans who qualify
as "larger participants" in the student loan servicing market. Comments on the
proposal will be due 60 days after its publication in the Federal...
On March 14, 2013, the CFPB announced
a proposed rule to supervise nonbank student loan servicers. Under the
proposed rule, the CFPB would have supervisory authority for loan servicers
with more than one million accounts - a move that would bring the seven largest
nonbank student loan servicers...