Udall, Warren, Brown Introduce Legislation to Protect Student Borrowers’ Rights and Hold Loan Servicers Accountable

Udall, Warren, Brown Introduce Legislation to Protect Student Borrowers’ Rights and Hold Loan Servicers Accountable

WASHINGTON – U.S. Senators Tom Udall (D-N.M.), Elizabeth Warren (D-Mass.) and Sherrod Brown (D-Ohio) have introduced legislation to protect student borrowers and guarantee oversight of the lending industry. The CFPB Student Loan Integrity & Transparency Act of 2019 ensures the transparency and effectiveness of the Consumer Financial Protection Bureau’s (CFPB) Student Loan Education Ombudsman, the federal government’s top official tasked with serving as an internal advocate for students who are struggling to repay federal education loans. The bill would require the CFPB and the Department of Education to share information, require loan servicers to cooperate with the Ombudsman, and fully staff the Ombudsman’s office.

Student Loan Company Will Forgo Collecting In New Mexico

Student Loan Company Will Forgo Collecting In New Mexico

AG Balderas, 48 Attorneys General Reach Settlement will bring $1.8 million in debt relief for CEC students in New Mexico.

Albuquerque, NM – For-profit education company Career Education Corp. (CEC) has agreed to reform its recruiting and enrollment practices and forgo collecting about $1.8 million in debts owed by 709 New Mexican students, and millions more nationally, in a settlement with Attorney General Balderas and 48 other attorneys general.