"The language" used by the CFPB about undisclosed contracts "is not very productive" and "is shaming banks and universities," said Richard Hunt, head of the Consumer Bankers Association.

Banks Fight CFPB Claim That Campus Pacts Are 'Secretive'

The industry is objecting to a recent Consumer Financial Protection Bureau blog post that calls into question the transparency of agreements between colleges and financial institutions that offer student products.

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