The CFPB reviewed federal student loan servicing practices since required repayments have resumed.
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The CFPB warned student loan servicers against attempting to collect on private student loans that had been discharged in bankruptcy.
In a Financial Institution Letter, the FDIC told counterparties and service providers to the recently failed Silicon Valley Bank, N.A. and Signature Bank, N.A. that (i) they remain obligated to the successor bridge banks of the two failed banks and (ii) they must meet their contractual obligations to the bridge banks.
The CFPB highlighted findings from supervisory examinations completed between January 2022 and June 2022.
The CFPB filed a Complaint against a payday lender, alleging that the company (i) concealed the option of a free repayment plan to consumers struggling to repay their short-term, high-cost loans and (ii) "made electronic withdrawals of consumers’ money without their authorization."