Defrauded Student Loan Borrowers Face Potential Obama Administration 'Boondoggle'

Defrauded student loan borrowers seeking relief from the Obama administration are confronting an Education Department process that a senior House Democrat compared to the government's bungled response to the mortgage robo-signing crisis that shook the U.S. housing market. In the case of robo-signed mortgage documents, bank regulators at the Office of the Comptroller of the Currency and Federal Reserve in 2011 created a time-consuming process to evaluate each borrower's claim. Banks spent more th...