CFPB outlines refinancing options for private student loans

The Consumer Financial Protection Bureau released a report outlining potential ways to help borrowers restructure or refinance their private student-loan debt. The non-binding suggestions include using public funds to refinance the private loans. CBA President and CEO Richard Hunt criticized the CFPB report for not focusing on federal student debt along with private student debt. Pace Bradshaw, CBA's vice president of congressional affairs, said accounting rules make it difficult for private lenders to restructure loans without setting aside more capital.

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