Some loan servicers in the mortgage and student loan industries are “engaged in a broad array [of] improper and illegal practices, such as misleading borrowers and inflating minimum payments,” the Consumer Financial Protection Bureau (CFPB) alleges after a review as part of its supervision program, The Hill reports. The CFPB is neither naming which firms are involved nor announcing any enforcement action it will take against them at this time. However, CFPB Director Richard Cordray stated, “All borrowers should be treated fairly by loan servicers, and through our supervision program, we intend to hold them accountable for how they treat borrowers.” As a result of the review, the Bureau found that servicers were allocating payments in a manner that maximized late fees, harassing borrowers with early morning and late night collection calls, and unfairly delaying loan modifications, among other actions. For more, read the full article.