Student loans

Wells Fargo & Co. is considering whether to jump-start its shrinking student-lending business by catering to borrowers holding U.S. government loans.

Kathy Kraninger, a senior official at the Office of Management and Budget, largely avoided answering direct questions at her nomination hearing.

Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.

Credit unions have seen massive gains in auto lending in recent years, but one analyst fears CUs may be too focused on that and losing share of wallet elsewhere as a result.

Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.

FutureFuel.io CEO Laurel Taylor and Edmit.me CEO Nick Ducoff discuss approaches to helping students repay their loans and make good debt decisions.

Nelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans.

A South Dakota regulator seeks to liquidate ReliaMax Surety, which provides default insurance for many private student loans held by credit unions.

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers, but any impact on credit unions remains to be seen.

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers.