Out-of-control CFPB doesn’t know when to stop

By once again overstepping its bounds, a runaway federal agency is causing needless chaos. The solution is for the Consumer Financial Protection Bureau to halt its Big Brother approach to everything and, in this case, its approach to how college loans are packaged for investors.

CFPB right now should drop its lawsuit over student loan trusts, a case where a federal judge already threw out a proposed consent order. A motion to dismiss the case is pending, and CFPB should agree to dismiss. Instead, the agency is pressing forward, continuing its threat to the availability of private student loans, meaning that it is a threat to everyone who needs money to go to college or a trade school.