Category Archives: Letters and Statements

Scotus

Joint Brief: AFR Joins Argument Urging Supreme Court to Support CFPB Structure

The amici submitting this brief are consumer organizations with an interest in the constitutional analysis that determines whether the structure of the Consumer Financial Protection Bureau (CFPB) is consistent with separation-of-powers principles … The amici submitting this brief are consumer organizations with an interest in the constitutional analysis that determines whether the structure of the Consumer Financial Protection Bureau (CFPB) is consistent with separation-of-powers principles …

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AFR Statement: The Department of Education has the Authority to Cancel Federal Student Loans. It should.

Today’s proposal that administrative authority be used to cancel student debt, and the affirmation of the legality of such a step by the Project on Predatory Student Lending at Harvard Law School are important positive possibilities for student borrowers and their families and communities. AFR has long called on the Department of Education to use its existing legal authority to cancel the federal debts of wronged students of for-profit colleges without individual application – as have former Corinthian students, advocates, lawmakers, and law enforcement officials.

a student holding a black backpack standing in front of a brick wall -Photo by Scott Webb on Unsplash

News Release: The Students Not Profits Act will protect public dollars from abuses at for-profit colleges

Americans for Financial Reform welcomes the introduction of The Students Not Profits Act, let by Representative Pramila Jayapal, and Senators Sherrod Brown and Elizabeth Warren. The for-profit college industry is plagued with bad outcomes for students, has a record of law breaking and abuse, and is responsible for 34% of student loan defaults, despite only enrolling 9% of post-secondary students. The Students Not Profits Act is a welcome and bold step to ensure that public dollars are not supporting and enabling malfeasance.

us congress building - Photo by Louis Velazquez on Unsplash

News Release: CFPB’s Proposed Debt Collection Rule Faces Strong Bipartisan Opposition

Strong majorities across parties oppose the Consumer Financial Protection Bureau’s (CFPB) proposed debt collection rule including medical debt, according to a new poll released by Americans for Financial Reform (AFR) and the Center for Responsible Lending (CRL). The poll was conducted by the bipartisan team of Lake Research Partners and Chesapeake Beach Consulting.