This issue brief, from the SPBC and the Center for Consumer Law & Economic Justice at the University of California, Berkeley, School of Law, examines how the Consumer Financial Protection Bureau has the authority to take action to crack down on predatory for-profit schools. These schools’ business models target historically marginalized communities, loading students with massive debt burdens that the schools often know could not possibly ever be repaid.
The brief lays out the practices and conduct of these schools brings them within the realm of CFPB jurisdiction as a “covered person” providing a consumer financial product or service.
Read the Issue Brief: For-Profit Schools as Covered Persons under the CFPA
Read the Blog: The CFPB Has the Tools to Rein in the Predatory For-Profit College Industry. It’s Time for It to Use Them.
Read more about the SBPC’s Work to Protect Borrowers from Predatory For-Profit Colleges: Combating Exploitative Education: Holding For-Profit Schools Accountable for Civil Rights Violations