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U.S. gender wage gap grows for first time in a decade; Trump has embraced NC's Mark Robinson, calling him 'Martin Luther King on steroids'; Volunteers sought as early voting kicks off in MN; Women's political contributions in congressional races fall short of men's.

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Rising threats of political violence, a Federal Reserve rate cut, crypto industry campaign contributions and reproductive rights are shaping today's political landscape.

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A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Gov. Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

Group Born from Wall Street Reform Helps PA College Students

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Monday, October 28, 2013   

PHILADELPHIA - Pennsylvania college students, with student-loan complaints ranging from high fees to inaccurate payment information, are getting help from an authority formed after the Wall Street collapse of 2008. The Consumer Protection Financial Bureau was established in 2012, and documents the problems students have with private lenders in an effort to make those lenders operate more fairly and transparently.

According to Ashley Afranie-Sakyi, program associate with the Pennsylvania Public Interest Research Group (PennPIRG), which analyzed the bureau's recent annual report, the biggest lender is the one generating the most complaints.

"Sallie Mae is the lender that was most complained about in Pennsylvania and actually generated 126 complaints in Pennsylvania alone," she specified. "It also dominates the private student lending market with an estimated 50 percent market share." ("Sallie Mae", the SLM Corporation, was originally called the Student Loan Marketing Association.)

Afranie-Sakyi said the bureau's database is a valuable resource, and not only for documenting problems after the fact.

"It's a great tool for filing complaints, but also going on and doing your research about your private student loan lender."

She said the database also serves another purpose that works to the favor of consumers.

"Since the complaint data is posted publicly, regardless of how the company responds there's a clear incentive for banks to respond promptly to consumer complaints," she said.

The Consumer Protection Financial Bureau report shows that financially-strapped consumers continue to have problems obtaining affordable repayment options, getting basic account information, or addressing payment processing errors. Sallie Mae says it has made payment adjustments on just under a billion and a half dollars worth of loans and and that it assigns advocates to work one-on-one with customers to get their issues resolved.

See the complete CFPB annual report at files.consumerfinance.gov.




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