Changes at CFPB's student loan division worry advocates [CNN]
Navient Corporation (NAVI)
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Source: CNN
Changes at CFPB's student loan division worry advocates Mick Mulvaney has a few more ideas to revamp his consumer watchdog agency. And this time he's targeting a unit dedicated to protecting millions of student loan borrowers. A division of the Consumer Financial Protection Bureau that helped borrowers deal with costly surprises and runarounds by their loan servicers will be folded into the bureau's office of financial education. Mulvaney, the interim director of the bureau, announced the plans in an email to staff on Wednesday. The division has helped return $750 million to student loan borrowers to compensate for abusive practices by lenders. It has helped more than 60,000 borrowers get answers from lenders about student loan repayment. And it has sued Navient, the nation's biggest student loan company, claiming it gave borrowers bad information. Related: Change could weaken fair lending office at consumer bureau The move raised alarm bells among consumer advocates, who said tha
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