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Wednesday, August 27, 2014

CFPB and Agencies Coordinate to Help Student Veterans

The CFPB, Department of Veterans Affairs (VA), Defense (DoD) and Education (ED) have signed an agreement to share information and coordinate efforts to assist servicemembers and others with their education benefits, as well as ensuring that colleges are providing these students with high-quality academic and student support. The agreement requires the agencies to:

  • Have a point of contact for sharing information
  • Share complaints about schools
  • Alert each other of suspected fraud, deception or misleading practices; and/or
  • Notify each other of any agency action that could lead to a college’s loss of eligibility, a suspension of enrollment or a termination of license

This new agreement is part of the CFPB’s larger initiative to prevent abusive and deceptive practices by schools serving servicemembers, including the launch of an online student complaint system.

Read more.

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