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CFPB Supervision Reports Highlights Failings by Student Loan Servicers and Collectors

The CFPB’s Fall 2014 supervisory highlights, covering supervisory activity between March and June, points to failings by student loan servicers and debt collectors.  The highlights identified six failings by student loan servicers, including misleading statements to consumers and telephone harassment.  Debt collectors’ misconduct included charging illegal convenience fees to consumers paying by credit card, false threats of litigation and improper disclosure to third parties.

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