How Elizabeth Warren Beat A Student Loan Giant

The Huff Post reports

Two years ago, Sen. Elizabeth Warren demanded to know why a government-sponsored bank meant to expand homeownership was instead lending money on the cheap to student loan company Sallie Mae, boosting its profits at the public’s expense.

Last week, the Massachusetts Democrat achieved a quiet victory after the Federal Home Loan Bank of Des Moines restricted Sallie Mae offshoot and student loan giant Navient Corp.’s access to ultra-cheap funds — causing stock in the company to plummet and demonstrating the unique ability of one of the Senate’s most liberal lawmakers to influence the bottom line of one of the nation’s largest publicly traded companies.

Navient shares have fallen more than 10 percent this week,  after the companydisclosed the Des Moines bank’s Dec. 22 move to investors on Monday morning. The stock has plunged 48 percent this year.

How Elizabeth Warren Beat A Student Loan Giant

Consumer Financial Protection Bureau releases largest collection of federal consumer financial complaint data > Consumer Financial Protection Bureau

Consumer Financial Protection Bureau releases largest collection of federal consumer financial complaint data > Consumer Financial Protection Bureau.

Today’s launch expands the Consumer Complaint Database significantly from about 19,000 credit card complaints to more than 90,000 complaints on mortgages, student loans, bank accounts and services, other consumer loans, and credit cards. In many cases, it includes the sub-category of products. For example, for mortgages it includes reverse mortgages, conventional fixed mortgages, conventional adjustable mortgages, and home equity loans or lines of credit.

The database allows the public to see what consumers complained about and why, as well as how and when the company in question responds. It has more than one million data points, covering approximately 450 companies. It includes the type of complaint, the date of submission, the consumer’s ZIP code, and the company that the complaint concerns. The database also includes information about the actions taken on a complaint by those companies – whether the company’s response was timely, how the company responded, and whether the consumer disputed the company’s response. A consumer’s identity and other personal information is not included in the data.

Student Loans Archive > Consumer Financial Protection Bureau

Student Loans Archive > Consumer Financial Protection Bureau.

Posts pertaining to Student Loans from the CPFB.