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  1. Media & Events
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Blog


  • Blogs
    Jul 6, 2021

    California Has the Opportunity To Protect Private Student Loan Borrowers in Every Corner of the State

    Right now, the 650,000 California student loan borrowers who owe more than $10 billion in private student loan debt remain vulnerable to this shocking range of harm and abuse if they fall behind. California legislators can change this.

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  • Blogs
    Jun 18, 2021

    Without Action, Millions of Families Will Be Denied Biden’s Top Anti-Poverty Lifeline Because of Student Loans

    Unless the administration takes swift and decisive action, cash made available through one of “the most important tools that the nation has in its arsenal to fight poverty” will soon be denied to struggling student loan borrowers and instead intercepted by the Department of Education (ED).

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  • Blogs
    Jun 14, 2021

    The Companies Enabling ISA Providers’ Illicit Activities Could Also Face Steep Legal Liability

    The results of a new investigation published today by the SBPC illustrate yet another way that ISA providers have premised their business on illegal tactics, as well as the broad scope of legal liability that ripples out of these practices for ISA companies and their enablers.

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  • Blogs
    May 25, 2021

    When Financial Companies get a Free Pass, Big Data Leads to Big Errors

    This blog examines the continued problems within the credit reporting system with a focus on widespread inaccuracies by companies that furnish credit information, including student loan servicers.

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  • Blogs
    May 7, 2021

    It’s Time for the Department of Education to Protect Students from Abusive Campus Cards

    One key area where reform and strengthened consumer protections are needed is the market for school-sponsored prepaid cards and debit cards linked to deposit accounts (“campus cards”). These cards are meant to help students conveniently access money from federal student aid left over after tuition and fees are paid, including books and housing.

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  • Blogs
    Apr 26, 2021

    The ISA Market is Getting Bigger and Weirder, Putting Borrowers at Increasing Risk

    The practice of building credit products with income-based repayment features and subsequently attempting to evade consumer protection law is rapidly growing. Without action by regulators, ISAs could be the next chapter in the long history of predatory lending.

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  • Blogs
    Apr 22, 2021

    Leveraging UDA(A)P in the Fight Against Discrimination

    With respect to student financial services, the need for effective discrimination enforcement is acute: there should be no room for doubt that discrimination is illegal and will be regulated with respect to predatory for-profit schools, exotic education-financing arrangements, fraudulent financial “advisory” services, student-specific consumer reporting, and third-party debt collection of student loans

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  • Blogs
    Apr 20, 2021

    It’s Time for Regulators to Scrutinize ISA Companies’ Emerging Rent-a-Bank Schemes

    The SBPC and coalition partners sent a letter to the Office of the Comptroller of the Currency— the nation’s top bank regulator—urging careful scrutiny of the “partnership” between Blue Ridge Bank, a federally chartered national bank, and MentorWorks, a student financing company that offers ISAs.

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  • Blogs
    Apr 12, 2021

    The Government Owns Most Student Debt, but the Student Loan Industry Plays a Key Role in the Student Debt Crisis

    Some of the most notorious actors profiting off the student debt crisis are student loan servicers. A a history of lawsuits, shocking investigations, and ruined financial lives makes clear that these companies harm borrowers from the day they get their first bill to the moment they pay off their loans.

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  • Blogs
    Apr 8, 2021

    The Student Loan Industry Failed Borrowers During the Pandemic Even More than We Knew. The Biden Administration Must Act.

    Our new report reveals tens of thousands of newly uncovered instances in which federal student loan servicers misreported borrowers’ repayment status to credit reporting agencies in apparent violation of the CARES Act and consumer financial laws such as the Fair Credit Reporting Act.

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