Published: February 2017

The CFPB: A champion for student loan borrowers too

Since 2012, the Consumer Financial Protection Bureau (CFPB) has continually defended student loan borrowers against some of the biggest players in the for-profit college and student loan industries. While fraud and mismanagement issues run rampant in student lending, the CFPB has worked hard to protect veterans, students and their families against some of the biggest offenders, including Sallie Mae, Navient, Corinthian and Bridgepoint Education.

At a time when the Consumer Financial Protection Bureau (CFPB) is under attack for being too successful at protecting American consumers against the biggest players in financial industry, advocates made sure to clearly communicate to Congress the ways the agency has gone to bat for students—and won. The CFPB has helped crack down on fraudulent for-profit colleges, like Corinthian and ITT tech, and checked student loan servicers who were treating their customers unfairly, like servicing giant Navient. As the nation continues to tackle high student loan debt, now is not the time to weaken the CFPB’s impact on students and families.

 

Lead Organization

United States Public Interest Research Group (U.S. PIRG)

Other Organizations

American Association of University Women | American Federation of Labor-Congress of Industrial Unions | American Student Association of Community Colleges | American Federation of Teachers | Americans for Financial Reform | Center for Responsible Lending | Consumer Action | Consumer Federation of America | Consumers Union | Demos | Generation Progress | Higher Ed, Not Debt | Higher Education Loan Coalition | Housing and Economic Rights Advocates | The Institute for College Access & Success | National Association of Graduate-Professional Students | Student Debt Crisis | Students United | United States Public Interest Research Group (U.S. PIRG) | United States Student Association (USSA) | Veterans Education Success | Young Invincibles

More Information

For more information, visit U.S. PIRG.

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The CFPB: A champion for student loan borrowers too   (CFPBSolvesProblemsForStudents.compressed.pdf)