SBPC comments on CFPB’s Advanced Notice of Proposed Rulemaking re: the consumer credit reporting market, the consumer debt collection market, the auto finance market, and the international money transfer market.
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186 organizations representing millions crushed under the weight of student loan debt submitted a comment in response to ED’s notice of its intent to establish negotiated rulemaking aimed at overhauling the rules that protect people from unaffordable student loan debt.
November Hardship NPRM Coalition Comment
Read the public comment submissions and borrower stories demonstrating the life-changing impact that President Biden’s new proposal would have.
In response to the U.S. Department of Education’s proposed Joint Consolidation Loan Separation Application, the Student Borrower Protection Center submitted a comment urging the Department to finalize the proposed application and begin to implement the Joint Consolidation Loan Separation Act quickly and to the fullest extent possible.
SBPC comment applauding the University of California’s recent decision to ban fully online degrees, while urging it to fully protect students from predatory online program managers by also banning fully online non-degree programs.
SBPC submits a comment applauding certain proposed changes aimed at expanding access to the PSLF program and outlining additional needed changes.
SBPC offers comments on the CFPB’s proposal to create a registry of nonbanks that use restrictive terms in form contracts to block borrowers’ rights. SBPC praises the idea against a backdrop of endemic abuse and offers suggestions for how the CFPB could strengthen it.
In a comment, the SBPC praises and offers additional suggestions to strengthen the CFPB’s proposal to create a registry of covered nonbanks that are subject to certain federal, state, or local agency orders.
In a comment, SBPC praises and offers certain recommendations to strengthen ED’s February 2023 letter revising guidance to institutions that contract with third-party servicers to administer any aspect of their participation in the Title IV program.