CFPB enters consent order with student loan servicer for delayed account adjustments

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On 1 May 2019 the Consumer Financial Protection Bureau (CFPB) announced a consent order with student loan servicer Conduent Education Services LLC (CES) (the company), formerly ACS Education Services, for alleged violations of sections 1031 and 1036 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 in connection with servicing loans for borrowers under the Federal Family Education Loan Program, 20 U.S.C. §§ 1071 et seq.

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