Press Releases

Press Releases

Jun 1, 2020

Advocates File Complaint with Federal Trade Commission, Urge Enforcement Action Against Vemo Education for Its Deceptive Marketing of Income-Share Agreements to Students

The National Consumer Law Center and the Student Borrower Protection Center filed a complaint with the Federal Trade Commission (FTC) urging it to investigate Vemo Education, Inc. (Vemo) for unfair and deceptive business practices under the Federal Trade Commission Act in the marketing and promotion of income-share agreements (ISAs) for students at certain universities.

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Press Releases

May 20, 2020

Great Lakes, Equifax, TransUnion, and Experian Sued for Damaging Millions of Student Loan Borrowers’ Credit, Mishandling Pandemic Relief

Today, individuals representing a class of millions of student loan borrowers sued five of the nation’s largest financial companies for illegally damaging borrowers’ credit and mishandling CARES Act pandemic relief.

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Press Releases

May 15, 2020

California Borrowers Advocates Respond to Governor’s May Revise and Urge Consumer Protections for Student Loan Borrowers in the Wake of COVID-19

Today, the Campaign for California Borrowers Rights responds to the Governor’s May Revision of the state Budget and urges the Legislature to pass The Student Borrower Bill of Rights.

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Press Releases

May 15, 2020

New Research Shows Student Debt’s Secret Price Tag

The Student Borrower Protection Center (SBPC) and Credit Builders’ Alliance (CBA) released new research revealing the secret price American families pay when taking on student debt.

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Press Releases

May 1, 2020

Advocates and Veterans Groups Urge Financial Institutions to Follow Military Consumer Protection Law During COVID-19 Mobilizations

Groups send letters to the nation’s major financial institutions urging them to ensure that service members—including those called up to support COVID-19 emergency response efforts—are not being mistreated or denied their rights under federal law.

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Press Releases

May 1, 2020

U.S. Department of Education and Secretary DeVos Sued for Illegally Seizing Student Borrowers’ Paychecks During Coronavirus Emergency

Student Defense and the National Consumer Law Center (NCLC), with the support of the Student Borrower Protection Center (SBPC), filed a class action lawsuit against the U.S. Department of Education and Secretary Betsy DeVos, demanding an immediate halt to the Department’s illegal garnishment of student borrowers’ wages.

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Press Releases

Apr 24, 2020

Americans Need Stronger Consumer Protections During COVID-19 Crisis

The Student Borrower Protection Center (SBPC), the U.S. Public Interest Research Group (U.S. PIRG), and Consumer Action released recommendations on Friday for the Consumer Financial Protection Bureau (CFPB) to enhance its consumer complaint tool to protect borrowers during the coronavirus (COVID-19) pandemic.

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Press Releases

Apr 21, 2020

Americans for Financial Reform and SBPC Send Letter to Navient Board of Directors Demanding Investment in Student Borrowers, Not Shareholders

The Student Borrower Protection Center (SBPC) and Americans for Financial Reform (AFR) sent a letter to the Board of Directors of Navient Corporation urging the company’s board to halt dividends and stock buybacks, pause planned compensation for itself and the company’s managers, and focus on investing in customer service infrastructure for the remainder of the coronavirus crisis.

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Press Releases

Apr 21, 2020

Coalition of Advocates Urge Congressional Oversight Commission to Aggressively Monitor Over $1 Billion in CARES Act Funds Going to For-Profit Schools

Today, a coalition of over 40 consumer advocacy organizations sent a letter to the Congressional Oversight Commission established to oversee CARES Act implementation calling for aggressive monitoring of funds going to for-profit schools.

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Press Releases

Apr 3, 2020

Embattled Private Student Lenders Finally Cease Abusive Lawsuits During the Coronavirus Pandemic

Decision to halt lawsuits follows SBPC’s calls for action and scrutiny of industry debt collection tactics.

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