Federalism to the Rescue
State regulators can and should examine for violations of federal consumer financial law
The SBPC is releasing new research developed as part of its Student Loan Justice Fellowship Program examining what tools states can leverage to respond to the needs of their residents who must now deal with the economic fallout from coronavirus.
The report, written by SBPC fellow Brian Shearer, builds a case for how states can oversee the nonbank companies at the center of the $1.6 trillion student loan market. The report also offers a path forward for states to oversee other critical financial institutions that play large roles in our consumer financial markets.