Student loans

Digit is applying its automated-savings techniques to the growing problem of student loan debt.

Nearly two dozen Senate Democrats say the CFPB should "immediately" open up an enforcement investigation into the Pennsylvania Higher Education Assistance Agency’s loan forgiveness program for alleged mismanagement.

The nation's largest private student lender plans to curtail its use of forbearance, a move that could well save some borrowers money but could also result in more defaults.

Figure Technologies, which has made $600 million in home equity loans in the past year, says its next move will be refinancing student loans.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

The state's Democratic-controlled Legislature has enacted laws establishing data privacy rights, giving municipalities the ability to set up public banks, and requiring standardized disclosures on small-business loans, among other issues. Lawmakers elsewhere are taking notice.

Readers react to plans by Democratic presidential candidates to reform college tuition, credit unions buying more banks, whether the next president could fire the CFPB head and more.

Nitin Mhatre of Webster Financial explains why the Consumer Bankers Association — whose members want a bigger piece of the student lending market — backs legislation that would make the federal government tell borrowers how much they will ultimately owe, as private lenders are already required to do.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

A major credit union conference will bring lawmakers face to face with the industry as Congress returns from its summer recess.

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.

The proposal's aim is to ensure borrowers are treated fairly and would require companies, including CUSOs, to submit licensing applications.

An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams.

Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.

The digital bank has grand ambitions for its new student loan refinancing platform as it looks to finally turn a profit for its parent company, Customers Bancorp.

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

The executives were hired for their focus on loan origination, portfolio management and securitization.