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Congressional Update – Comprehensive Consumer Credit Reporting Reform Act of 2016

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The bill below was recently introduced on Capitol Hill and it involves student loans. If you would like to learn more about the bill, please click the link below.

Comprehensive Consumer Credit Reporting Reform Act of 2016

H.R. 5282 — Introduced

…respondents reported having good or excellent credit scores, while over half of African-American households reported having fair or bad credit. (5) Private education loans.– (A) The Bureau’s October 2014 report titled “Annual Report of the CFPB Student Loan Ombudsman” noted many private education loan borrowers who sought to negotiate a modified repayment plan when they were experiencing a period of financial distress were unable to get such assistance from their loan holders, often resulting in…

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