The CFPB Will Get Slammed in Republican Debate Commercial

November 11, 2015, 1:09 AM UTC
2012 Massachusetts Democratic Endorsing Convention
SPRINGFIELD, MA - JUNE 2: Elizabeth Warren speaks during the 2012 Massachusetts Democratic Endorsing Convention, held at the MassMutual Center in Springfield. (Photo by Aram Boghosian/The Boston Globe via Getty Images)
Photograph by Getty Images

Not all of the fireworks during tonight’s Republican primary debate on Fox Business will be on stage in Milwaukee. There will be some sparks during the commercial breaks, too.

That’s because American Action Network, a group that is led by lobbyists with ties to student loan company Navient, will be running an ad sharply criticizing the Consumer Financial Protection Bureau and Sen. Elizabeth Warren (D.-Mass.), who helped form the regulatory agency, reports The Intercept.

“Navient had zero involvement in the ads or any efforts regarding the ads,” a Navient spokesperson told Fortune.

The CFPB is currently investigating Navient. The ad, shown below, isn’t exactly subtle:

The CFPB, created by the Dodd-Frank financial reform bill, is supposed to help enforce fair lending and prevent predatory lending. It has been subject to accusations that it makes it difficult for people to secure loans, hurting lower-income Americans who need to take on debt to purchase cars, houses, and other big-ticket items.

Editor’s note, 11/11/2015, 10:02 a.m. EST: The following story has been updated and now includes a comment from Navient.

Read More

Great ResignationDiversity and InclusionCompensationCEO DailyCFO DailyModern Board