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Monday, November 18, 2013

CFPB Chopra Speaks on Rising Student Debt

Rohit Chopra, Assistant Director & Student Loan Ombudsman for the Federal Reserve Bank of St. Louis spoke on the impact of rising student debt on the balance sheets of young American households. Chopra stated:
I believe that the student loan market, relative to other consumer asset classes, is quite opaque, adding further uncertainty about the potential spillovers into the rest of the economy. I am quite concerned that financial regulators and the public lack basic, fundamental data on student loan origination and performance.
Chopra noted the need to assemble data to better understand student loan origination and performance.

Read the speech.

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