The latest annual report from the Consumer Financial Protection Bureau contains a clear message for borrowers encountering problems with loan servicers: Complain. More specifically, file a complaint with the CFPB.
“Complaints by student loan borrowers led to hundreds of millions of dollars in relief and important market reforms,” said CFPB Director Richard Cordray, in a statement.
“When borrowers are empowered to stand up for themselves, they can shape policy and spur government to take action,” said Seth Frotman, CFPB student loan ombudsman, in the same statement.
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