Newsroom Archive

Press release

Published OCT 16, 2017

CFPB Report Finds Consumer Complaints Spurred Actions That Brought More Than $750 Million in Relief for Student Loan Borrowers

CFPB Heard More Than 20,000 Borrower Complaints Last Year Highlighting Widespread, Persistent Servicing Problems.

Press release

Published SEP 18, 2017

CFPB Takes Action Against National Collegiate Student Loan Trusts, Transworld Systems for Illegal Student Loan Debt Collection Lawsuits

All 800,000 Loans Will Be Independently Audited, Companies Will Pay at Least $21.6 Million and Stop Suing for Invalid or Unverified Debts.

Press release

Published AUG 17, 2017

CFPB Takes Action Against Aequitas Capital Management for Aiding Corinthian Colleges' Predatory Lending Scheme

Bureau’s Proposed Settlement Seeks $183.3 million in Relief for 41,000 Harmed Student Borrowers.

Press release

Published AUG 16, 2017

CFPB Finds Percentage of Borrowers with $20K in Student Debt Doubled Over Last Decade

Record Student Debt Spurring Employers to Offer Student Loan Repayment Benefits.

Speech

Published JUN 22, 2017

Prepared Remarks of CFPB Director Richard Cordray at the Public Service Student Loan Forgiveness Event

Consumer Bureau Launches “Certify Your Service” Campaign to Help Teachers, First Responders, and Other Public Servants Stay on Track.

By Richard Cordray

Press release

Published JUN 22, 2017

CFPB Spotlights Borrower Complaints About Student Loan Servicers Mishandling Public Service Loan Forgiveness Program

Consumer Bureau Launches “Certify Your Service” Campaign to Help Teachers, First Responders, and Other Public Servants Stay on Track.

Press release

Published MAY 16, 2017

CFPB Report Finds That 9 in 10 of the Highest-Risk Student Loan Borrowers Were Not Enrolled in Affordable Repayment Plans

Nearly Half of the Highest-Risk Borrowers Not Enrolled in an Affordable Repayment Plan Redefault.

Press release

Published APR 26, 2017

CFPB Supervision Finds Some Student Loan and Mortgage Servicers Illegally Fail to Provide Protections to Borrowers

Bureau Recovered $6.1 Million for 16,000 Consumers Harmed By Auto Loan Originators.

Press release

Published APR 25, 2017

CFPB Monthly Snapshot Spotlights Student Loan Complaints

Report Also Looks at Consumer Complaints from Nevada.

Consumer advisories

Published FEB 27, 2017

Consumer advisory: Bad information about your college enrollment status can cost you

Errors in your college enrollment record can affect your finances in ways you don’t expect.

Press release

Published JAN 18, 2017

CFPB Sues Nation's Largest Student Loan Company Navient for Failing Borrowers at Every Stage of Repayment

Navient, Formerly Part of Sallie Mae, Illegally Cheated Borrowers Out of Repayment Rights Through Shortcuts and Deception.

Speech

Published JAN 18, 2017

Prepared Remarks of CFPB Director Richard Cordray on the Navient Enforcement Action Press Call

Today the Bureau is filing a lawsuit against Navient (formerly part of Sallie Mae), which is the nation's largest servicer of both federal and private...

By Richard Cordray

Press release

Published JAN 05, 2017

CFPB Warns Student Loan Servicing Problems Can Jeopardize Long-Term Financial Security for Older Borrowers

Growing Concerns as Number of Older Student Loan Borrowers Quadruples, Amount of Debt Per Senior Borrower Doubles in Last Decade.

Press release

Published DEC 15, 2016

CFPB Unveils Consumer Credit Trends Tool to Help Forecast Potential Consumer Risks

Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets.

Speech

Published DEC 15, 2016

Prepared Remarks of CFPB Director Richard Cordray at the CFPB Research Conference

On behalf of the Bureau, let me welcome all of you and say that we much appreciate this opportunity to discuss consumer financial markets with so many...

By Richard Cordray

Press release

Published OCT 31, 2016

CFPB Supervision Recovers $11 Million for 225,000 Harmed Consumers

CFPB Finds Qualified Students Were Blocked From Affordable Loan Repayment Plans; Updates Student Loan Servicing Exam Procedures.

Speech

Published OCT 27, 2016

Prepared Remarks of CFPB Director Richard Cordray at the Consumer Advisory Board Meeting

Today, I want to talk to you about some of the issues people encounter when they are paying back debts. Specifically, I want to discuss the debt collection...

By Richard Cordray

Press release

Published OCT 17, 2016

CFPB Projects that One-in-Three Rehabilitated Student Loan Borrowers Will Re-default Within Two Years

Gaps in Student Loan Rehab Programs Trap Vulnerable Borrowers in Default, May Cost Consumers $125 Million in Unnecessary Interest Charges Alone.

Press release

Published SEP 12, 2016

Consumer Financial Protection Bureau Takes Action Against Bridgepoint Education, Inc. for Illegal Student Lending Practices

CFPB Orders Full Relief and Refunds for All Private Loans Made by the School.

Press release

Published AUG 22, 2016

CFPB Takes Action Against Wells Fargo for Illegal Student Loan Servicing Practices

Wells Fargo to Pay $3.6 Million Penalty to the Bureau.

Press release

Published AUG 18, 2016

Consumer Financial Protection Bureau Finds Consumers Complain Of Needless Hurdles In Applying For Lower Student Loan Payments

Today the Bureau Student Loan Ombudsman released a report finding consumers complain of servicing problems that make it difficult to get lower student loan...

Speech

Published JUL 20, 2016

Prepared Remarks of CFPB Director Richard Cordray on Student Loan Servicing Press Call

I am pleased to join Secretary King and Deputy Secretary Raskin to take this step toward reforming the student loan servicing market. This is an important...

By Richard Cordray

Press release

Published APR 28, 2016

CFPB Unveils Student Loan 'Payback Playbook' to Provide Borrowers With Personalized Snapshot of Repayment Options

Prototype Disclosures Outline Path to Affordable Payments for Borrowers Trying to Avoid Debt Distress.

Speech

Published APR 28, 2016

Prepared Remarks of CFPB Director Richard Cordray on the Student Loan Payback Playbook Press Call

I am pleased to join my colleagues at the Department of Education and the Department of the Treasury as we continue to improve student loan repayment and address the many problems in student loan servicing that we have highlighted over the past year.

By Richard Cordray

Press release

Published MAR 30, 2016

CFPB Halts Student Loan Debt Relief Scam

Student Aid Institute Illegally Tricked Borrowers Into Paying Fees for Federal Loan Benefits The Bureau today took action to halt a student loan debt relief...