Media Press Releases Page 5

Press Releases

Advocates Condemn U.S. Chamber of Commerce-Led Lawsuit to Block Biden Administration’s Landmark Effort to Ban Non-Competes

Lawsuits look to right-wing judges to overturn final rule, which frees millions from coercive contracts like Training Repayment Agreement Provisions (Traps) and is expected to generate more than $400 billion in increased wages.

Advocates Applaud the Federal Trade Commission’s Ban on TRAPs and Stay-or-Pay Contracts that Function as Non-Competes

The FTC’s decision to ban de facto non-competes, like stay-or-pay contracts and TRAPs, will empower millions of workers.

CFPB Halts Silicon Valley Predatory Student Lending Scheme, Bans Disgraced Tech Founder from Student Loan Industry

Austen Allred, pioneering “Income Share Agreement” loan shark and founder of for-profit coding bootcamp BloomTech (formerly “Lambda School”) is named in federal enforcement action; company and founder must cancel debt owed by some current and former students.

Incarcerated Borrowers Finally Able to Consolidate Student Loans Following 32-Year Ban

Biden Administration announces revised guidance, overturning a 32-year-old policy prohibiting incarcerated student loan borrowers from consolidating their student loans.

Biden Administration Announces Public Comment Period for Proposed “Plan B” Debt Relief Plan, Marking Critical Step Forward Toward Sweeping Relief

Proposal addressing hardship posed by student debt is expected to follow.

Senate Hearing Sets Stage for Long-Awaited Oversight and Accountability of Student Loan Servicing Giant MOHELA for Failing Borrowers

Student loan expert and borrower advocate Persis Yu will offer testimony; MOHELA CEO Scott Giles declines to publicly testify.

President Biden to Take Major Step Towards Plan B Debt Relief for 30 Million Borrowers

Today, President Biden offered his Administration’s first detailed overview of the sweeping student debt relief package that the U.S. Department of Education will unveil in the coming months.

Advocates Sound Alarm: Online Ed-Tech Giant’s Looming Collapse Spells Disaster for its Student Loan Borrowers

Today, SBPC and partners sent an urgent letter to the CFPB and the Department of Education warning about the potential collapse of ed tech giant 2U, inc.

MOHELA’s “Cease and Desist” Letter Offers New Evidence of Mismanagement, Abuse by the Scandal-Ridden Student Loan Company

Advocates to MOHELA: “Tuuth is on our side;” AFT and SBPC petition Education Department Inspector General to audit MOHELA’s performance under its federal contracts.

LDF, SBPC, and Upstart Announce Final Monitorship Report on AI and Fair Lending

Independent monitor ends oversight of Upstart network amid impasse and offers guidance for fair lending oversight in financial services; parties warn of risk of AI-driven bias in consumer lending.

Join our mailing list Stay informed on the fight to protect Americans with student debt

Name*
First Name* Last Name
Email*
Affiliation
State
Zip Code*
Phone
This field is for validation purposes and should be left unchanged.