SBPC and Civil Rights Groups Urge CFPB to Root Out Discrimination in Student Loan Industry
In a letter to CFPB Director Kathy Kraninger, the SBPC and a wide range of civil rights organizations urge the CFPB to utilize its critical enforcement and supervision tools to protect borrowers from discrimination in the student loan industry.
With borrowers of color continuing to experience disproportionately high rates of delinquency and default, the organizations emphasize the CFPB’s responsibility to enforce fair lending laws. The letter also highlights alarming testimony by Director Kraninger that the CFPB is failing to utilize its independent oversight authority to protect borrowers from discrimination.
Read: Letter to Consumer Financial Protection Bureau Director Kathy Kraninger