2. Cordray Brings the Controversial Obama Era CFPB Model to Student Loans

Richard Cordray has grafted into the Office of Enforcement from his tenure at the CFPB a sue and harass model where he uses the heft of the federal government and its allies to bring disfavored industries to heel. Documents obtained by AAF from state attorney general offices show that Cordray explicitly told AGs that as part of his enforcement partnerships with them that “We have instituted a similar process for information requests from the Consumer Financial Protection Bureau (CFPB).” What Cordray is creating is an enforcement office where the aggressive rhetoric of Senators Warren and Sanders is supercharged with the manpower, subpoenas, and lawsuits of a federal agency all toward the goal of shutting down career colleges.

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