Biden's Education Department will make it easier to monitor student loan servicers by rescinding a Trump-era policy Summary List Placement Richard Cordray, the head the Education Department's Office of Federal Student Aid (FSA), is remaining committed to helping student loan borrowers through new issued guidance that would enhance oversight of student loan servicers. On Friday, Cordray — former head of the Consumer Financial Protection Bureau (CFPB) and an ally of Sen. Elizabeth Warren — issued guidance that would expedite the process for states to receive data from student loan servicers, increasing oversight to protect student loan borrowers from potential violations of the law. Cordray wrote in a blog post that, as former head of the CFPB, he "saw the importance of state regulation and oversight to identify problems and deliver relief when companies take advantage of people." He also said the new guidance will make the information FSA holds more accessible to regulators. "States and regulators need information when they think a loan servicing company might be violating a law or regulation," Cordray wrote. "To know for sure, they need to look at the companies' policies and procedures, their handbooks, complaints made by customers, and anything else that shows how the company operates.