Democratic lawmakers sent a letter to the director of the nation's top consumer watchdog agency demanding that the Consumer Financial Protection Bureau do its job supervising the student loan system.
that a turf war between the Department of Education and the CFPB was effectively blocking the bureau from sending examiners into loan servicing companies to look for problems — in particular with a troubled loan forgiveness program for public service workers. The program has been rejecting, senators cited NPR's reporting and told director Kraninger that her agency had broad powers to conduct such oversight and could go to court to force the issue.
Kraninger responded at the hearing that she would rather not have an adversarial relationship with the Department of Education."I have met with Secretary DeVos," she said,"and we are already discussing how to move forward in an effective way to make sure that we're overseeing servicers.
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