Media Press Releases Page 14

Press Releases

FDIC and CFPB Must Take Immediate Action to Halt SoFi’s Latest Lawbreaking Effort to Prey on Customers and Exploit the Banking Crisis

SBPC Provides Federal Regulators With Evidence of New SoFi Scheme to Sell Fake Financial Product Using FDIC’s Likeness March 22, 2023 | WASHINGTON, D.C. — Moments ago, the Student Borrower Protection Center (SBPC) sent a letter to the Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) demanding...

Advocates Commend U.S. Labor Department for Taking Action to Protect Workers from Predatory Employer-Driven Debt

The U.S. Department of Labor filed its first-ever lawsuit against a company for allegedly using a “stay-or-pay” contract that required employees to pay the employer if they leave their job before the end of a contract.

New Investigation Exposes Years-Long Scheme by Private College and Failed Coding Bootcamp to Dupe Regulators and Push Predatory Loans on Low-Income Students

The SBPC released a new report exposing a back-room deal between the failed for-profit coding bootcamp Make School and the nonprofit college Dominican University that aimed to mislead accreditors, state regulators, and prospective students while getting Make School access to federal student aid dollars.

CFPB Moves to Quash Decades-Long Industry Scheme to Rob Borrowers of Bankruptcy Rights

CFPB releases bulletin demanding student loan servicers halt and return unlawful debt collection on loans discharged through bankruptcy.

Failing Private Student Lender Sues Biden Administration to Force Student Loan Bills for Tens of Millions

Amici curiae to nation’s highest court: student debt relief is lawful and urgently needed to address the effects of the COVID-19 pandemic.

February 28, 2023

Borrowers and Advocates from Across the Country Gather in Front of the U.S. Supreme Court to Demand Right to Student Debt Relief

Amici curiae to nation’s highest court: student debt relief is lawful and urgently needed to address the effects of the COVID-19 pandemic.

January 31, 2023

Major Cargo Airline Company Accused of Illegally Trapping Pilots in Up to $30,000 of Training Debt Amidst Supply Chain Crisis

Coalition of consumer, worker, and anti-monopoly advocates urge DOT to protect aerospace workers from predatory TRAPs.

January 11, 2023

Historic Coalition of Cities, States, Experts, and Advocates Defend Action to Cancel Student Debt Before the Supreme Court

Amici curiae to nation’s highest court: student debt relief is lawful and urgently needed to address the effects of the COVID-19 pandemic.

January 10, 2023

Education Department’s Announcement on Income-Driven Repayment is Game-Changing for Struggling Student Loan Borrowers

The House of Representatives votes 225 to 201 with bipartisan support for a $1.7 trillion omnibus funding package that will support the Biden Administration’s effort to cancel student debt for 40 million people.

January 5, 2023

FTC Stands With Workers and Borrowers Through Proposed Blanket Ban On Non-Compete Clauses

By banning non-competes, FTC would restore key rights to millions of workers and set the stage for protections against employer-driven debt TRAPs.

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