Trump’s CFPB is shutting the office that focuses on student loan abuses

Source: Ken Sweet, Associated Press (Los Angeles Times) (Paid Registration)

The Trump administration signaled last week that it intends to pull back on investigating potential abuses by companies in the $1.5-trillion student loan market.

The Consumer Financial Protection Bureau will shut its student lending office, according to a bureau-wide memo written by its acting director, Mick Mulvaney. The student loan office at the CFPB had been responsible for returning $750 million in relief.

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