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  • CFPB Answers Our Letter About Possible CARD Act Violations at Schools

    We recently told you about our investigation into whether colleges and universities with credit card marketing agreements were making their agreements available to the public.  Using information from the CFPB’s college credit card database, we contacted 10 schools with the largest active account volume that did not post their agreements or offer guidance for how Continue Reading

  • President Calls for “Student Aid Bill of Rights”

    If you’ve got student loans, you know how complex and overwhelming the financial aid system can be – and how tough it is to navigate your way to the best options for paying for college.  Luckily, the President appears to be stepping up efforts to stop the madness. Yesterday, the Obama Administration announced a sweeping Continue Reading

  • CU Says Colleges May Be Violating CARD Act; Will Colleges Respond?

    In the 2000s, colleges and credit card companies got a lot of flack for entering into agreements to aggressively market credit cards to students on campus.  After the 2008 financial collapse, Congress passed the CARD Act – which, among other things, requires all schools with credit card agreements to make them available to the public. Continue Reading

  • More Millenials Still Living with Parents – Thanks to Student Debt

    Things are supposed to be looking up these days – more jobs and economic growth are good news, right?  But there’s still a huge problem facing “millenials,” or people aged 25 to 34: student debt is making it harder for them to scrape together enough money to move out of the family basement. The New Continue Reading

  • Feds Get $480 Million in Relief for Corinthian College Students

    This week brought big news for students who’ve attended the infamous Corinthian Colleges, which operate under the names Heald, WyoTech and Everest.  The Consumer Financial Protection Bureau (CFPB) and the Department of Education announced a $480 million deal with ECMC, the company that’s buying up several Corinthian campuses, to bring immediate relief to past and Continue Reading

  • CFPB Announces “Scorecard” For Campus Banking Products

    In a new effort to protect students being marketed campus banking products, the CFPB announced today that it is developing a “Safe Student Account Scorecard” for schools.  The Scorecard will give schools a roadmap to negotiating a better deal for students when choosing a financial institution to offer bank accounts or prepaid cards on campus. We’ve Continue Reading

  • Thirty-Five Things in 12 Months: CFPB Working for You–2014 in Review

    As this year comes to a close, we wanted to take a moment to highlight some of the many actions the CFPB has taken to defend your rights as a consumer of financial services and products.  The CFPB has a tough job, as we all know, and they’ve done it well.  They are an indispensable Continue Reading

  • CU and Others Urge Feds to Protect Students During Sale of For-Profit College Campuses

    Corinthian Colleges, the for-profit college chain that operates Heald, Everest and WyoTech campuses, has made the headlines a lot lately for their financial troubles and questionable college programs – not to mention being sued by the CFPB recently for its student loan practices.  Now they’re poised to sell 56 of their failing campuses – but Continue Reading

  • CFPB Takes Action to Shut Down Illegal Student “Debt Relief” Scams

    Big news today from the CFPB! – they are putting an end to two student “debt relief” scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. The CFPB, in a joint filing with Florida’s Attorney General, shut down student debt relief company College Education Services and separately filed a lawsuit against Student Loan Continue Reading

  • Deputy Treasury Secretary calls for better student loan servicing

    Student loan borrowers know all too well how tough it can be to get information or resolve issues with servicers that manage their loans after they leave school. Turns out, the Treasury Department is listening. In a speech given last week at the annual National Consumer Law Center conference, Deputy Treasury Secretary Sarah Bloom Raskin Continue Reading

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