CFPB head says Education Department blocks access to information needed to oversee student loans

Consumer Financial Protection Bureau (CFPB) director Kathy Kraniger says the Education Department is hindering access to information that is crucial to helping regulators properly oversee student loan companies, NPR reported. In a letter to Democratic senators released Thursday by Sen. Elizabeth Warren (D – Mass.), Kraniger said that “student loan servicers have declined to produce information requested by the Bureau for supervisory examinations” related to federal student loans since December 2017. Kraniger said student loan servicers are withholding the information because the Department of Education, headed by Secretary Betsy DeVos, has directed them not to share the information over “privacy” concerns.