Press Releases

Press Releases

Mar 4, 2025

Consumer Advocates: Corporate Pardons for Wells Fargo, Bank of America, J.P. Morgan Chase, and Zelle Parent Company Mark Trump CFPB’s “Open Season for Ripping Off Americans”

Today, Trump leadership at the Consumer Financial Protection Bureau (CFPB) dropped a major enforcement case against the operators of the peer-to-peer payments app Zelle—parent company Early Warning Services (EWS), and three of EWS’ owner banks, Wells Fargo, Bank of America, and J.P. Morgan Chase. The dismissal of the case occurred despite an incriminating complaint filed by the CFPB in December 2024 that alleged that Americans have lost more than $870 million in fraud…

More
Press Releases

Mar 3, 2025

SBPC Calls on Senators to Protect Public Education, Stand with Working Families, and Reject Linda McMahon’s Dangerous Nomination to Lead Department of Education

Today, the United States Senate is expected to vote on the nomination of Linda McMahon to serve as the next Secretary of Education. If confirmed, McMahon would be charged with managing a $1.6 trillion dollar student loan portfolio—the equivalent of one of the largest consumer banks in the world. In the last few days alone, the Trump Administration has already sparked unprecedented chaos and confusion for millions of working families with student debt…

More
Press Releases

Feb 28, 2025

Current and Former CFPB Officials: Trump Appointees are Lying, Concealing Scheme to Defang Consumer Watchdog

Late last night, 12 current and former Consumer Financial Protection Bureau (CFPB) officials filed declarations in a federal court case that seeks to protect the CFPB from a relentless, weeks-long assault by Trump Administration appointees including Elon Musk and Acting CFPB Director Russ Vought.

More
Press Releases

Feb 27, 2025

Press Call Advisory for Friday, February 28: Former Consumer Protection Officials to React to Trump CFPB Dismissing Slew of Enforcement Actions and Resulting Harm to Americans

Tomorrow at 11:00 a.m. ET, top experts from the Student Borrower Protection Center (SBPC) and Consumer Federation of America (CFA) will join the former head of enforcement from the Consumer Financial Protection Bureau (CFPB) to respond to the news that Trump leadership at the CFPB dismissed a slew of enforcement actions totaling billions of dollars in consumer harm. The cases include:

More
Press Releases

Feb 27, 2025

CFPB Drops Enforcement Action Against Predatory Student Loan Company

Today, the Consumer Financial Protection Bureau (CFPB) withdrew its lawsuit against the Pennsylvania Higher Education Assistance Agency (PHEAA), the giant student loan servicer whom the Bureau sued in 2024 for illegally pursuing borrowers for debts that had been discharged in bankruptcy.

More
Press Releases

Feb 24, 2025

Trump Administration Denies Access to Affordable Repayment Plans in Extreme Response to Right-Wing Court Order

Move comes as Trump and Musk wreak chaos on working families and fire thousands of public service workers who now need IDR to avoid default.

More
Press Releases

Feb 24, 2025

Media Availability: Former Heads of CFPB Enforcement and Supervision, Former CFPB Student Loan Ombudsman Available to Highlight Ongoing Risks to Consumers As CFPB Shutdown Enters Fourth Week

After speaking out on CBS News’ 60 Minutes, the former heads of the CFPB enforcement and supervision divisions, along with the CFPB’s former student loan ombudsman, are available to discuss why it’s urgent for the agency to be able to get back to work protecting consumers from financial fraud and crimes.

More
Press Releases

Feb 24, 2025

As CFPB Faces Existential Threat, Advocates Release State-by-State Fact Sheets on Agency’s Impact

Fact sheets shed light on the millions of consumers who have called on the watchdog for help and benefited from its work to rein in predatory and abusive financial institutions.

More
Press Releases

Feb 20, 2025

Trump and Vought Desert Consumers and Working Families Amid Violations by Predatory Financial Companies

Consumer Federation of America and Student Borrower Protection Center detail 38 enforcement actions abandoned by CFPB leadership.

More
Press Releases

Feb 19, 2025

Media Availability: As CFPB Shutdown Enters Third Week, Former Top CFPB Officials Say It’s Time to Let the Agency Get Back to Work Protecting Consumers

Former top officials from the CFPB are available for media interviews to discuss why it’s urgent for the agency to be able to get back to work protecting consumers from financial fraud and crimes.

More

EXPLORE MORE

Resources & Litigation