Mike Pierce

America lets big corporations and broken public programs drive working people deeply into debt. Eventually, families reach a breaking point. Debt stops being a way to stay afloat and starts being a weight that drags them down. This is the untold story of the Trump economy.

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Rohit Chopra

@ChopraUSA

Apr 16

Replying to @ChopraUSA

While the stock market garners a lot of attention, let's not forget that most families are focused more on making their monthly payments on their debt. cnbc.com/2025/04/16/del

Reporters are missing a huge part of the @CFPB story: Musk now has access to confidential information about his competitors— confidential records and documents obtained through supervision and enforcement. CFPB is a law enforcement agency. Reports say it has been compromised.

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House Committee on Financial Services - Democrats

@USHouseFSC

Feb 8

Here is the richest man in the world bragging about eliminating an agency that has delivered $21 billion back to working-class families since its inception. Even most Republicans want the @CFPB to continue protecting them from being ripped off by abusive big banks and predatory x.com/elonmusk/statu…

[BREAKING] @CFPB BANS

@NAVIENT

FROM THE FEDERAL STUDENT LOAN SERVICING INDUSTRY This is the end of one of the longest-running government enforcement actions against a major financial firm in U.S. history. More to come

@theSBPC

. consumerfinance.gov/about-us/newsr

Fun fact: Many social workers work for for-profit agencies. None qualify for PSLF. Also fun fact: Many healthcare workers work for for-profit hospitals. None qualify for PSLF. Funnest fact: PSLF is good. Canceling debt for everyone is also good. Everyone deserves debt relief.

Tonight,

asked why Elon wants to shutter CFPB, the agency that should be protecting Elon’s own customers from fraud and abuse.

@ChopraUSA

explains: honest companies and consumers will pay a heavy price if Elon gets his way. This is corruption.

Trump, DOGE work to shutter CFPB, an agency created in response to the 2008 financial crisis

Just a reminder that no one has been enrolling in Income-Driven Repayment because the government secretly told the student loan industry to stop processing applications That happened in FEBRUARY.

@AFTunion

had to sue just to get the application back on the internet.

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U.S. Department of Education

@usedgov

Apr 22

Starting May 5, the Department will resume collections to protect taxpayers from shouldering the cost of student loans. Federal student loans are financed by the American people and must be paid back. ow.ly/93x050VEXTL

I spent seven years at CFPB— an agency designed to stand up for working people and hold powerful financial interests accountable. This agency and its mission are a direct threat to bankers and billionaires. Its demolition is a direct threat to the rest of us.

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Deepak Gupta

@deepakguptalaw

Feb 14

What's happening at the CFPB right now is a tragedy for American consumers, and it's lawless. We're seeking an immediate order restoring the CFPB’s operations and emergency relief to prevent further harm to consumers. guptawessler.com/wp-content/upl

Student debt makes people sad. Canceling student debt makes these people very happy. Most people without student debt also think canceling student debt is good. Basically no one will be really mad if student debt disappeared. Sometimes things are simple. #cancelstudentdebt

Mike Pierce

@millennial_debt

Jan 22, 2022

Batman wants to #cancelstudentdebt.

@POTUS

should just listen to

Happy Saturday to everyone except for the sad centrist wonks who spent two years pushing the line that student debt relief was a giveaway to “the rich.”

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Michael Stratford

@mstratford

Feb 17, 2023

Replying to @mstratford

BY INCOME: Borrowers in lower-income areas applied for debt relief at higher rates than those in wealthier neighborhoods. 98% of apps came from ZIP codes where per-capita income is less than $75K. Two-thirds of apps from areas < $40K More than half of apps from areas < $35K

Anyone who tells you canceling student debt is regressive is selling something.

Mike Pierce

@millennial_debt

Aug 18, 2022

THEY KEEP SAYING IT WILL CAUSE INFLATION IF WE CANCEL STUDENT DEBT BUT NO ONE HAS PAID A BILL IN YEARS! WHAT THEY MEAN IS THEY WANT TO FIGHT INFLATION BY MAKING PEOPLE PAY DEBTS THEY WOULDN’T OWE IN THE FIRST PLACE IF THE SYSTEM WASN’T CORRUPT. (It’s me and I’m not sorry.)

Mike Pierce

@millennial_debt

Jul 19, 2024

[BREAKING] The 8th Circuit temporarily blocked President Biden's signature SAVE income-driven repayment plan in full. The unsigned, single-sentence order is extreme and will cause mass chaos.

@POTUS

has no choice but to suspend student loan payments. storage.courtlistener.com/recap/gov.usco

Replying to

This isn't just Fetterman v Ryan. Across the country, in race after race, Dems who ran on the promise to cancel student debt beat expectations. That includes

@SenMarkKelly

and, most visibly,

@SenatorWarnock

who staked his race and his reputation on the politics of student debt.

Mike Pierce

@millennial_debt

Feb 11

I’m old enough to remember when a trump judge blocked a student debt relief plan that *didn’t exist* because he believed the plaintiffs would succeed on the merits if a future rule were written. He enjoined an entire sphere of regulation preemptively, preliminarily, nationwide. x.com/carney/status/

This post is unavailable.

This is an incredible day. I've been working on this case in some form for *eleven years. It reshaped my career and changed my life. I met some of the most incredible colleagues-turned-lifelong-friends @CFPB, in state AG offices, in Congress, and on student loan beat.

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Mike Pierce

@millennial_debt

Sep 12, 2024

[BREAKING] @CFPB BANS @NAVIENT FROM THE FEDERAL STUDENT LOAN SERVICING INDUSTRY This is the end of one of the longest-running government enforcement actions against a major financial firm in U.S. history. More to come @theSBPC. consumerfinance.gov/about-us/newsr

It is good for government to do things to help people. It is bad for government to do things that hurt people. Canceling student debt makes life easier for millions of people. Collecting student loan payments makes life harder. This doesn't have to be hard. #CancelStudentDebt

Mike Pierce

@millennial_debt

Nov 15, 2022

Once again, the narrow financial interests of the student loan industry trump the urgent economic needs of tens of millions of Americans with student debt. This is a travesty.

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Michael Stratford

@mstratford

Nov 15, 2022

NEWS - 8th Circuit has blocked Biden's student debt relief program, siding with GOP states in a 3-0 decision.

We GRANT the Emergency Motion for Injunction Pending Appeal. The injunction will remain in effect until further order of this court or the Supreme Court of the United States.

[BREAKING]

just filed an update in the 8th Circuit.

Ten days ago, the 8th temporarily stayed student debt relief. The case turns on right-wing @AGEricSchmitt's claim to represent loan processor

@MOHELA

. Now it seems

@RepCori

got MOHELA to speak.

BOOM

Replying to

cracking jokes and telling truths. "People are investing in education and trying to pay their loans back, but many borrowers are still treated like deadbeats because the government has put them in the hands of predatory loan companies like

This is bad for workers who should have a right to move freely in the labor market. It’s also devastating to millions of workers stuck in TRAPs and other contracts that lock them into their jobs. This is a brazen power grab by right-wing judges on behalf of big corporations.

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More Perfect Union

@MorePerfectUS

Aug 21, 2024

BREAKING: A Texas federal judge has ruled against the FTC's noncompete ban, which will no longer take effect next month. This adds to the long list of partisan judges obstructing the federal government's ability to regulate big business.

Or…hear me out… shut the whole thing off. If these judges force you to make the student loan system break— arbitrarily blocking borrowers rights based on operational constraints that have no root in the law itself— then just stand on the side of borrowers and SHUT IT DOWN.

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Travis Hornsby, CFA, CFP®

@StudentLoanTrav

Aug 9, 2024

What dept of ed is doing right now is illegal. They can’t stop processing idr applications for weeks just bc they feel like it. IBR is in statute, but DOE won’t let borrowers sign up. Servicers need to start processing paper apps or DOE needs to unblock the online application.

This is a miscarriage of justice and an unprecedented misreading of the law. Fortunately for millions,

@POTUS

knows that this kangaroo court doesn't actually constrain his ability to cancel student debt. The law gives

@usedgov

another path forward. Joe Biden must seize it.

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Michael Stratford

@mstratford

Nov 11, 2022

NEWS: Federal judge in Texas strikes down Biden's student debt relief program, declaring it illegal.

FINAL JUDGMENT
This Final Judgment is issued pursuant to Federal Rule of Civil
Procedure 58. Per the Order entered on November 10, 2022:
It is ORDERED AND ADJUDGED that Final Judgment is entered
in favor of the Plaintiffs.
Plaintiffs’ Motion for Summary Judgment (ECF No. 3) is GRANTED
and Defendants’ Motion to Dismiss (ECF No. 25) is DENIED.
The Court DECLARES UNLAWFUL and VACATES the Program.
The Clerk is DIRECTED to transmit a true copy of this Final
Judgment to the Parties.
SO ORDERED on this 10th day of November 2022.

Mike Pierce

@millennial_debt

Jun 27, 2023

The right-wing billionaire who paid for Alito's secret Alaska fishing junket is the chair of the board

@ManhattanInst

, where

@ishapiro

works. Seems like someone should be asking harder questions about who pays the bills when

@ishapiro

briefs the court. #CORRUPTION x.com/ishapiro/statu

Buy a man a fish, and you own the man for a lifetime.

(caption: billionaire investor Paul Singer, Justice Sam Alito, and another guy hold huge fish on a fishing junket in Alaska paid for by Singer. The fish symbolize corruption.)

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[BREAKING] Trump/

dropped CFPB's consumer protection lawsuit against predatory student loan company

@PHEAAaid

. This is corrupt and deeply unfair to the borrowers who have been cheated by PHEAA at every step. More to come from

@theSBPC

... courtlistener.com/docket/6882180

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Student Borrower Protection Center

@theSBPC

Jun 1, 2024

@CFPB is suing @PHEAAaid for their shameful efforts to continue collecting on private loans that were discharged in bankruptcy!

This is one of the many reasons why a strong @CFPB is so critical for workers and families.

consumerfinance.gov/about-us/newsr

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