Tuesday, July 9, 2019

"pointed to a lack of enforcement at the federal level as one reason for growing interest in the issue"

From the Milford Daily News, articles of interest for Franklin:
"A bill before the Massachusetts Legislature, if approved, would create a Student Loan Bill of Rights that includes appointing a state student loan ombudsman in the state Attorney General’s office.

Five states so far this year have passed new laws aimed at protecting student loan borrowers. Another three are steps away from doing so and similar bills filed in a handful of others, including Massachusetts, according to a new report.

Action on the state level is in reaction to the relaxation of federal oversight, according to an issue paper from the Hildreth Institute, a Boston nonprofit focused on college affordability

“In the absence of federal leadership on regulating the loan servicing industry,” states have been left with no choice but to pass legislation that provides such oversight, the report says."
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Consumer Financial Protection Bureau
Consumer Financial Protection Bureau
  Visit the Consumer Financial Protection Bureau online https://www.consumerfinance.gov/

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