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Director Cordray targets payday and student lenders in remarks to Consumer Advisory Board
Posted to: Around The Web
Wednesday, February 20, 2013 9:37 PM

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Director Cordray’s prepared remarks for yesterday’s meeting of the CFPB Consumer Advisory Board contained some particularly ominous signs for student and payday lenders. In the student lending area, Mr. Cordray focused on perceived similarities between servicing problems experienced by mortgage loan borrowers and those experienced by student loan borrowers. Observing that student loan servicing has the “same problematic [financial] incentive... More >

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