Home » Archive by Tags

Articles tagged with: borrower defense

Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB
October 4, 2017 – 11:26 am
Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB

Today at a public hearing at the Department of Education, AFR’s senior policy analyst gave testimony about the need to reinstate the Memorandum of Understanding with the CFPB, ended by Secretary DeVos to widespread criticism.

AFR Statement: DeVos Decision to Delay Borrower Defense is a Slap in the Face to Students
June 14, 2017 – 12:33 pm

Americans for Financial Reform strongly condemns the decision by Secretary of Education Betsy DeVos to abandon the victims of predatory colleges by delaying the Borrower Defense rule. This is a slap in the face to defrauded Americans, and a stunning admission by the Department of Education that they intend to place wealthy for-profit college executives ahead of students striving for a better life.

AFR Statement: AFR applauds automatic debt discharges at ACI, calls for further action
January 13, 2017 – 1:49 pm

Americans for Financial Reform (AFR) applauds the news that the Department of Education will grant automatic discharges to all former students of American Career Institute (ACI) in Massachusetts. Before being confirmed, any nominee for Secretary of the Department of Education must clearly articulate plans to rapidly pursue additional automatic group discharges, to ensure that all Americans are protected from future exploitation of taxpayer-backed loans by predatory schools.

AFR Statement: Final Borrower Defense to Repayment Regulations
October 28, 2016 – 12:29 pm

AFR welcomes the news that the Department of Education has finalized a rule that will prohibit the use of forced arbitration at schools. We hope that as the Department moves forward to procedural guidance and to enforcement that it does everything possible to ensure that no defrauded borrower be left buried in debt from a school that broke the law, betrayed its students, and cheated taxpayers.

Letter to Regulators: AFR Calls on the Dept of ED to Make Wronged Students Whole in the Borrower Defense Rule
August 1, 2016 – 9:00 pm

AFR submitted comments to the Department of Education suggesting ways to ensure that their borrower defense proposal can truly provide a fair and transparent processes for students seeking debt relief following illegal acts by their schools.

Letter to Regulators: Over 10,000 AFR Members call on Dept of ED to Protect Scammed Students
August 1, 2016 – 8:40 pm

Over 10,000 members of Americans for Financial Reform signed a petition calling on the Department to provide full loan relief to defrauded students, provide automatic loan cancellation when there is sufficient evidence of a school’s wrongdoing, not impose time limits on relief for defrauded borrowers, and close gaping loopholes allowing unscrupulous schools to prevent injured students from having their day in court.

AFR Statement: Department of Education’s approach to relief to Corinthian students remains far too narrow
June 29, 2016 – 7:34 pm

“We continue to believe that the Department should be providing automatic group relief for wronged Corinthian students, rather than pursuing the application-based, piecemeal approach it has taken to discharges thus far.”