Advocacy

In a letter, the SBPC, Americans for Financial Reform Education Fund, the California Reinvestment Coalition, the Center for Responsible Lending, Consumer Reports, and the National Consumer Law Center urge the OCC to carefully scrutinize the “partnership” between Blue Ridge Bank, a federally chartered national bank, and MentorWorks, a student financing...

In a letter to Secretary of Education Miguel Cardona, the SBPC, Equal Justice Works, and 95 other advocacy organizations, call on ED to conduct an immediate 90 day review of the PSLF program and cancel the student loan debt of all public service workers who have completed ten or more...

This memo explores how the Truth in Lending Act’s (TILA) consumer protections prohibit a prominent feature of Income Share Agreements (ISAs) known as a "prepayment penalty"—a lending industry practice that forces borrowers to pay an extra sum if they want to pay off a debt early.

This report is the result of an investigation that reveals potentially harmful business practices and possible fair lending risks by Stride Funding, an education finance firm that originates and markets Income Share Agreements (ISAs).

In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

In a letter sent to the Commissioner Alvarez, the Campaign for California Borrowers' Rights—a coalition of advocacy organizations committed to protecting student loan borrowers—calls on the newly created California Department of Financial Protection and Innovation to use its authorities to engage in diligent supervision, proactive enforcement, deliberate rulemaking, and smart...

This issue brief, from the SPBC and the Center for Consumer Law & Economic Justice at the University of California, Berkeley, School of Law, examines how the Consumer Financial Protection Bureau has the authority to take action to crack down on predatory for-profit schools.

This issue brief highlights newly public data obtained by NCLC from the Department of Education showing that only 32 borrowers have ever qualified for debt cancellation through the federal government’s IDR program, even as approximately 2 million borrowers remain trapped in decades-old debts.

In a letter sent to the U.S. Senate Banking Committee, 34 advocacy organizations, led by the SBPC and Americans for Financial Reform, called on the Committee to swiftly confirm FTC Commissioner Rohit Chopra as the next Director of the Consumer Financial Protection Bureau. Citing Chopra’s decade-plus of experience fighting for...

In a letter to Acting Secretary of Education Philip Rosenfelt, the SBPC and the National Consumer Law Center (NCLC) urged immediate action to assist millions of student loan borrowers forgotten by Washington during COVID.