NCUA chairman Debbie Matz has responded to a group of advocacy organizations that called on the NCUA to look into what they believe to be predatory student loans.

Matz’s response came in the form of a letter, which stated that although the NCUA has no enforcement authority over CUSOs or other third parties – including ITT Educational Services, the Rochdale Group and Student CU Connect – at the NCUA’s instigation, the seven credit unions that had participated in a lending program deemed predatory by the advocacy organizations ceased purchasing those loans in 2012 after a three-year contract expired.

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