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Author archive: Rohit Chopra

What sunshine for student financial products can show us

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Recently, we alerted financial institutions about the potentially risky practice of not readily disclosing arrangements with colleges and universities to market bank accounts, prepaid cards, debit cards, and other financial products to students. Director Cordray called on financial institutions to voluntarily make these agreements available on their websites. According to a survey of school officials, […]

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Helping student loan borrowers stay afloat

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This morning, CFPB Director Richard Cordray, Education Secretary Arne Duncan, and Acting Deputy Treasury Secretary Mary Miller convened a meeting with the nation’s largest private student lenders and servicers who work with millions of borrowers and their families. Unfortunately, too many student loan borrowers are struggling. According to a report we published jointly with the […]

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Sunshine for student financial products

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Today, Director Cordray is alerting financial institutions about the potentially risky practice of making secret payments to colleges and universities to market deposit accounts, prepaid cards, debit cards, and other financial products to students. We’re calling on financial institutions to voluntarily make these agreements available on their websites. We’re also releasing a report on college […]

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