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What Trump’s CFPB has and hasn’t done in the first two months of Russell Vought’s control of the Bureau. Vought has so far illegally fired staff, halted the Bureau’s critical work, and pardoned corporate lawmakers.
Read the latest Protect Borrowers press release.
SBPC released the results of a months-long investigation into the tech company Prehired, exposing how the firm had resumed its scheme to push worthless credentials on students, paid for via its own predatory private student lending operation.
With the CFPB shuttered, advocates call on state regulators and Attorneys General to protect students and borrowers from the repeat offender.
“What they’re trying to do is build a new market for Wall Street,” Mike Pierce, of the Student Borrower Protection Center, told me.
Preliminary injunction orders Trump Administration to reinstate CFPB student loan ombudsman and get CFPB back to work on behalf of consumers.
Seven repeat offenders pardoned by the Trump Administration have paid more than $7 billion for their illegal activities as a result of CFPB and other regulators.
SBPC and AFT are still committed to ensuring borrowers access their right to affordable payments and debt relief amid million-borrower paperwork backlog.
The second Trump Admin has been filled with chaos and uncertainty for students and borrowers—but they can take critical steps to protect themselves and fight back.