Cordray scraps Trump-era policy hindering state investigations of student loan companies

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The Biden administration is rescinding a Trump-era policy that blocked state and federal regulators from accessing records that they need to oversee and investigate some of the nation’s largest student loan companies.

Richard Cordray, the new federal student aid chief, announced the change on Friday and vowed to work more collaboratively with state attorneys general and other regulators to police the student loan servicers and debt collectors hired by the Education Department.

The policy reversed by Cordray was at the center of years-long disputes between

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