JOHNSON COMMENTS ON CFPB'S NEW FINANCIAL AID SHOPPING SHEET

WASHINGTON –Today, Senator Tim Johnson (D-SD), Chairman of the Senate Banking Committee, released the following statement on the Consumer Financial Protection Bureau’s “financial aid shopping sheet.” This afternoon, Raj Date, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, unveiled details of the CFPB’s new financial aid shopping sheet at the University of Minnesota. 

 

“The CFPB’s Financial Aid Shopping Sheet is a perfect example of what this new agency is intended to do – help American consumers make informed financial decisions,” said Chairman Johnson.  “The financial aid shopping sheet will help families and students comparison shop when borrowing money for their education.  It is a commonsense tool that will help ensure students know, in clear and understandable terms, the total debt and monthly payments before they sign on the dotted line. 

 

“The more I learn about the good work going on at the CFPB, like the creation of the financial aid shopping sheet, the more dismayed I am by Washington Republicans’ continued attacks on consumer protections.”  

 

-30-