What does Preamble of HR 7671 do?

This bill amends the Consumer Financial Protection Act of 2010. It establishes the position of Assistant Director and Student Loan Borrower Advocate within the Bureau of Consumer Financial Protection. The bill aims to create a framework for coordination between the Bureau of Consumer Financial Protection and the Department of Education. This coordination is intended to assist borrowers seeking to resolve complaints related to private education or Federal student loans.

What does SHORT TITLE; TABLE OF CONTENTS. of HR 7671 do?

This bill is formally titled the Students and Young Consumers Empowerment Act.

What does ASSISTANT DIRECTOR AND STUDENT LOAN BORROWER ADVOCATE. of HR 7671 do?

This section establishes the position of Assistant Director and Student Loan Borrower Advocate within the Consumer Financial Protection Act of 2010. The Assistant Director will serve as the head of the Office for Students and Young Consumers. The Assistant Director must enter into a memorandum of understanding with the Secretary of Education and other officials to coordinate assistance to borrowers. The Assistant Director is responsible for accepting and attempting to resolve complaints related to student loans. The Assistant Director must submit annual reports to Congress on the student loan marketplace, campus banking, and risks to young consumers. The Office for Students and Young Consumers will develop initiatives to educate and empower students and their families. The Assistant Director has authority to gather information regarding the student loan market and may require reports from covered persons and service providers.

What does DUTIES OF THE DEPARTMENT OF EDUCATION. of HR 7671 do?

This section amends Part D of title I of the Higher Education Act of 1965. It establishes a requirement for the Secretary of Education, the Chief Operating Officer, and the Student Loan Ombudsman to enter into a memorandum of understanding (MOU). The MOU must be executed within 60 days of the section's enactment. The MOU is to be established with the Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection. The MOU aims to ensure coordination in assisting borrowers with complaints related to private education loans or loans under Title IV. The MOU authorizes the Bureau to access relevant Department information systems, records, and data, including those maintained by Department contractors.

What does DEFINITIONS. of HR 7671 do?

This section defines terms used within the title. “Agency” refers to either the Bureau of Consumer Financial Protection or the Department of Education. The “Bureau” is defined as the Bureau of Consumer Financial Protection. A “complaint” is defined as a comment, inquiry, or request for assistance from a student loan borrower. The “Department” is defined as the Department of Education. “Federal consumer financial law” is defined by reference to section 1002 of the Consumer Financial Protection Act of 2010. “Institution of higher education” is defined by reference to section 102 of the Higher Education Act of 1965. “Nonpublic information” includes confidential information, Department-collected information not publicly available, and personally identifiable consumer information. “Private education loan” is defined by reference to section 140(a) of the Truth in Lending Act. “Provider” and “receiver” define the agencies providing and receiving information, respectively. “Student financial services” are consumer financial products or services related to students, including loan origination and servicing. “Title IV loans” are loans made, insured, or guaranteed under title IV of the Higher Education Act of 1965.

What does COOPERATION BETWEEN THE BUREAU AND THE DEPARTMENT. of HR 7671 do?

This section establishes cooperation between the Bureau of Consumer Financial Protection (Bureau) and the Department of Education (Department). The Assistant Director and the Secretary are required to establish points of contact and share schedules of examinations and reviews related to student financial services. The Bureau and Department must coordinate activities to efficiently use resources and meet quarterly to discuss complaints and borrower characteristics. The Secretary is required to provide the Bureau with access to Department databases for reporting, research, and other purposes. Complaints from student loan borrowers must be transferred between the agencies within 10 days for origination, disbursement, or servicing issues. The agencies must establish a collaborative process to address complaints related to defaulted title IV loans. The Bureau and Department are required to enter into memoranda of understanding to address data privacy issues and safeguard nonpublic information. The Bureau will accept complaints related to private education loans and the servicing of title IV loans. The Department is responsible for program issue resolution regarding title IV loan programs. The Bureau and Department are each responsible for their own costs of complying with this section.

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Students and Young Consumers Empowerment Act — HR. 7671

Last updated: 2/25/2026 · Introduced: 2/25/2026

Author: Suzanne Bonamici (D-OR)

TL;DR (AI)

This bill establishes an Assistant Director and Student Loan Borrower Advocate within the Consumer Financial Protection Bureau (CFPB) to focus on student loan issues.
The bill requires the CFPB and the Department of Education to coordinate assistance for borrowers with complaints about private and federal student loans through memoranda of understanding.
The Assistant Director will oversee the Office for Students and Young Consumers, developing educational initiatives and gathering information on the student loan market.
The Department of Education must collaborate with the CFPB, sharing data and coordinating complaint resolution processes for student loans, including those in default.
The bill mandates the sharing of information and resources between the CFPB and the Department of Education to improve efficiency and address student loan borrower concerns.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title; table of contents..

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TITLE I

-STUDENTS AND YOUNG CONSUMERS EMPOWERMENT

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TITLE II

-STUDENT LOAN INTEGRITY AND TRANSPARENCY

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