A new internal memo from the CFPB says it will 'deprioritize' its student-loan oversight in Trump's latest move to overhaul the consumer watchdog

The Consumer Financial Protection Bureau headquarters in Washington, DC. A new internal memo from the CFPB told employees to "deprioritize" student loans and medical debt.

Bill Clark/CQ-Roll Call, Inc via Getty Images

• A new internal memo from the CFPB told employees to "deprioritize" student loans and medical debt.
• It said that the focus of the CFPB will shift from supervision of companies to giving money back to consumers.
• This memo comes as millions of student-loan borrowers are expected to default this year.