Consumer agency takes student loan complaints

By Daniel Wagner AP Business Writer WASHINGTON (AP) -- The government's new consumer protection agency has started accepting complaints from people who borrowed from private companies to finance their educations. The Consumer Financial Protection Bureau said Monday that it expects to receive complaints about billing, confusing advertising and debt collection by private student lenders. The agency will work with the Department of Education, which oversees federal student loans such as Stafford and PLUS loans. The CFPB was created by Congress to oversee parts of the financial industry that were poorly regulated before the financial crisis. It will serve as a single contact point for consumers with complaints about most types of financial products. The agency is already accepting complaints about credit cards, mortgages and checking accounts. Consumers wishing to lodge a complaint can visit www.consumerfinance.gov. Published: Wed, Mar 7, 2012