WASHINGTON - A proposal in Congress would exempt banks with small student loan portfolios from costly audits currently required by law.

Rep. Thomas Ewing, R-Ill., and Rep. Ron Lewis, R-Kan., introduced a bill this week that would drop the audit requirement for banks with student loan portfolios of $5 million or less.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.