Kraninger: Department of Education refusing to cooperate with CFPB

The Consumer Financial Protection Bureau’s Kathy Kraninger says the department is getting in the way of efforts to police the student loan industry.. CFPB Chief Says Education Department Is.

The U.S. Department of Education has refused to cooperate with the Consumer Financial Protection Bureau, according to CFPB Director Kathy Kraninger. Kraninger recently sent a letter to Sen. Elizabeth Warren, D-MA, in response to the senator’s questions about the bureau’s efforts to protect stude.

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And while the former CEO of a payday lender may seem like the least qualified fit to lead the CFPB, the situation gets worse. As it turns out, her former company, World Acceptance, was investigated by.

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How will CFPB enforcement changes affect consumers? Kraninger: Department of Education refusing to cooperate with. – The U.S. Department of Education has refused to cooperate with the Consumer Financial Protection Bureau, according to CFPB Director Kathy Kraninger. Kraninger recently sent a letter to Sen. Elizabeth Warren, D-MA, in response to the senator’s questions about the bureau’s efforts to protect student loan borrowers through its oversight of student loan servicers.

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He says he’d like to see Kraninger more directly demand that the Education Department change its guidance to loan servicers and tell them to cooperate with regulators. The CFPB could also take loan servicers to court to get the information it needs., Frotman says.