CFPB and ED ink MOU to better serve student loan borrowers

The CFPB has announced that the Bureau and the U.S. Department of Education have announced a new coordination agreement in order to better serve student loan borrowers. Under the newly signed Memorandum of Understanding, the agencies will share complaint information from borrowers and meet quarterly to discuss observations about the nature of complaints received, characteristics of borrowers, and available information about resolution of complaints. The MOU also provides for the sharing of complaint data analysis, recommendations, and analytical tools.