Episode 7 – Financial Consumer Rights Talk – Student Loan Stress
The CFPB whats to hear about how student loans have caused stress.
On March 10, 2015 President Obama released a press statement and a directive for a couple of the federal agencies to take action; the memo is called the “Student Aid Bill of Rights”.
This memo asks the Secretary of Education, Secretary of Treasury, and the Director of the CFPB (Consumer Protection Finance Bureau), to issue a report to the president that would assess the potential applicability of consumer protections that have been implemented in the mortgage and credit card markets to the student loan industry.