Response to CFPB RFI – Public Complaint Database June 4, 2018
Response to Consumer Financial Protection Bureau Request For Information – Public Complaint Database June 4, 2018
The World Turned Upside Down
The famous lyrics from Hamilton: An American Musical, “the world turned upside down,” are an apt description of what is happening in the financial justice field these days. Here’s what we’re concerned about at the federal level: The Department...
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A birthday wish for the CFPB: Strong payday loan protections
Payday loans often trap consumers in a cycle of debt due to lump sum payments, high annual percentage rates (APR), and little consideration of whether borrowers can afford to repay their loans. To combat this, the CFPB is developing...
Testimony of Katie Buitrago before the Consumer Financial Protection Bureau Field Hearing on Student Loans
150514_woodstock_CFPB_studentloans.pdf Testimony of Katie Buitrago before the Consumer Financial Protection Bureau Field Hearing on Student Loans. In this testimony Buitrago discussed the impact for-profit colleges have on students’ economic opportunities, with these students graduating with more debt and fewer...
Comment letter to the Consumer Financial Protection Bureau recommending expansion of public student loan data
150713_cfpb_servicing.pdfThis comment letter responds to the Consumer Financial Protection Bureau (CFPB) request for information on student loan servicing, in particular its questions on data. The letter draws upon lessons from the Home Mortgage Disclosure Act and the National Mortgage...
Community Investment Awards Highlight Secure Choice & Student Loans Report (Illinois Asset Building Group)
Amy Rynell, Senior Director of Research & Policy at Heartland Alliance, accepted Woodstock Institute’s Community Investment Award, stating: “Without access to easy, convenient tools to build retirement savings more people will experience a reduced quality of life in retirement,...
Consumer Protection Agency Probing Student Loan Services; Researchers Analyze Borrowing At For-Profit Colleges (Progress Illinois)
Public feedback is being sought by CFPB on “industry practices that create repayment challenges, hurdles for distressed borrowers and the economic incentives that may affect the quality of service.” The public comment period opened May 14 and will run...
Student Loan Servicers Should Show a Good Faith Effort Toward Better Outcomes, Says CFPB (Main Street)
Today, anyone clicking on Contact Your Student Loan Servicer at ED’s student aid Website, loan servicer advice is limited to phone etiquette — keeping “careful notes on all conversations you have” and making the suggestion that the Federal Student...
Comment Letter to Consumer Financial Protection Bureau about Student Accounts
150323_collegeaccounts.pdf This letter commends the CFPB for releasing its Safe Student Accounts Scorecard, a voluntary tool to help colleges select banking partners that will benefit students. The letter recommends that the CFPB expand the list of Safe Student Account...