The Consumer Financial Protection Bureau is taking a closer look at companies that service student loans to determine whether there are patterns of abuse and misinformation in the $1 trillion industry.

In an announcement to be released Thursday, CFPB Director Richard Cordray said the agency had been alerted to potential billing problems, lost records, delays in resolving errors and generally poor customer service at the hands of student loan service providers.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.