CFPB Faults Education Department's Debt Collectors

An undisclosed number of debt collectors working for the U.S. Department of Education misled borrowers in distress, obstructing some of them from making good on their debts and likely violating federal law, the Consumer Financial Protection Bureau said in a report Wednesday. Some of the debt collectors, who work under contracts from the Education Department and weren't identified by the CFPB, threatened borrowers with lawsuits even though they had no intention of suing. Some used call scripts an...