Banks exit student lending as CFPB increases scrutiny

(April 16, 2012) -- As the Consumer Financial Protection Bureau has stepped up its focus on the rapidly-growing student loan debt in recent months, some banks are exiting the market. Most recently, JP Morgan Chase & Co., the largest bank in the country, has said it will end its participation in the market on July 1 except for its existing consumers—those who have a deposit, loan or credit-card relationship with the bank....

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