Student loans

The report from an advocacy group that focuses on college affordability says that schools need to do a better job of educating students about their eligibility for federal loans, which typically carry lower interest rates than loans from banks and other private-sector lenders.

Four lenders, led by Sallie Mae, have long dominated the market for private student loans. But they could soon face new competition from Navient and Nelnet.

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”

Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank.

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

Wells Fargo & Co. is considering whether to jump-start its shrinking student-lending business by catering to borrowers holding U.S. government loans.

Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.

Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.

Nelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans.

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers.