Kraninger: Department of Education refusing to cooperate with CFPB

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the U.S. Department of Education (ED or "the Department"). In response to a letter we sent in April 2019, CFPB Director Kraninger revealed, "student loan servicers have declined to produce

But when the CFPB tried to get records from student loan servicers like Navient and Nelnet, they "declined to produce information requested by the Bureau for supervisory examinations related to. loans held by the Department" of Education, wrote Kraninger. And the loan servicers’ refusal to cooperate, she wrote, was "based on the.

Kraninger cites DoE obstacles to examinations Friday, May 17, 2019 Consumer Financial Protection Bureau Director Kathy Kraninger’s revelation that student loan servicers have been refusing to cooperate with the CFPB, citing policy guidance issued by the Department of Education, is not sitting well with Democrats.

Democrats complained that Kraninger would not detail her role in those policies during her confirmation hearing or in written questions. “She is refusing to describe. including the Department of.

At the same time, Kraninger also explained that the Education Department has created obstacles that are getting in the way of the CFPB doing its job. In addition to the guidance to student loan servicers that is impeding oversight efforts, back in 2017, the Trump administration’s education department ended information sharing agreements that it.

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Sen. Warren to CFPB's Mulvaney: YouThe letter is a carefully worded response to senators’ questions, but Kraninger, a Trump administration appointee, is in essence saying that the CFPB is trying to do its job protecting student borrowers and supervising loan servicing companies, but the Education Department is getting in the way.

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Dear Secretary DeVos and Director Kraninger: We write regarding the terminated Memorandum of Understanding ("MOU") between the U.S. Department of Education ("Department") and the Consumer Financial Protection Bureau ("CFPB"), an agreement that is both statutorily required and essential to protecting student loan borrowers.

He’s called key Republican senators this week to tout Kraninger’s experience, and he issued a glowing statement in support of her Senate confirmation. Congressional Republicans have praised Mulvaney’s.