The abuse in the student loan field has cost consumers BILLIONS in unnecessary debt and heartache…
The director of the Consumer Financial Protection Bureau (CFPB) is facing growing pressure from liberal critics to challenge another Trump agency, the Department of Education, and crack down on abusive student lending practices.
A turf war between the two, which started when CFPB was blocked by the Education Department in its efforts to look into the companies that service student loans over their practices, now threatens to heat up as outside groups jump into the fight.
The pressure is putting Kraninger, who took over the CFPB late last year, in a difficult spot.
Kraninger says she is eager to take on shady student loan practices, but also appears reluctant to escalate a fight with a Trump Cabinet member who is popular in conservative circles.
Kraninger is seeking an agreement for the Education Department to produce documents relevant to the CFPB’s lawsuit against Navient, a federal student loan servicer, as well as a probe of a loan forgiveness program administered by the Education Department….