CFPB continues to seek more affordable student-loan options

05/20/2013 |

As big student-loan lenders such as Bank of America and Citibank have exited the market, some non-bank firms have entered it. The question, says Consumer Financial Protection Bureau's Rohit Chopra, is whether new entrants in the market "have access to affordable capital to lend out that money at affordable rates" and can find new customers, he says. "Net interest margin on these loans is relatively high and that suggests a lack of competition," he said.

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