Senator Elizabeth Warren (D-Mass.) and six fellow Democrats are turning up the heat on Equifax, Experian, and TransUnion, accusing the credit reporting giants of allowing widespread errors in federal student loan data to go uncorrected. In a letter sent Wednesday, the lawmakers argue that the Trump administration’s dismantling of consumer protections has left borrowers with little recourse.
Warren, the ranking member of the Senate Banking Committee, spearheaded the effort, warning that the bureaus’ track record—combined with a gutted Consumer Financial Protection Bureau—makes it “concerningly plausible” that mistakes are rampant. The CFPB has seen its staff slashed by 90 percent under Trump, a move the senators say has emboldened the credit agencies to resolve fewer complaints in consumers’ favor. According to a 2024 Senate investigation, the rate of favorable resolutions dropped sharply in 2025, to near zero at two of the three firms.
Joining Warren on the letter are Senators Richard Blumenthal (Conn.), Chris Van Hollen (Md.), Jeff Merkley (Ore.), Mazie Hirono (Hawaii), Tammy Duckworth (Ill.), and Ron Wyden (Ore.). They’re demanding the bureaus explain how they verify data from student loan servicers and whether they trust the Department of Education to monitor the problem. The companies have until June 30 to respond.
The push comes as a new analysis from Protect Borrowers, a nonprofit advocacy group, estimates that student loan servicers have cost borrowers billions in unnecessary interest and misled them about relief options. Senior Policy Advisor Chris Hicks noted that even before Trump’s cuts to Federal Student Aid, most servicers failed accuracy standards. “Student loan servicers are failing, and borrowers are paying the price,” Hicks wrote, pointing to the rising cost of living squeezing families deeper into debt.
Hicks also flagged the looming July 1 deadline for over 7 million borrowers on the Saving on a Valuable Education (SAVE) plan, which Trump eliminated. Those borrowers must switch to a new repayment plan, compounding the administrative chaos. The SAVE plan was a Biden-era initiative designed to lower payments; its cancellation has left many uncertain about their options.
A spokesperson for Senator Merkley told The Hill that the letter builds on his efforts to codify the SAVE plan into law and strengthen consumer protections. The political stakes are high, as Democrats increasingly frame student debt as a core issue heading into the next election cycle. Meanwhile, the Trump administration has defended its CFPB cuts as necessary to reduce regulatory overreach.
TransUnion responded with a statement saying it “appreciates the opportunity to engage with policymakers” and looks forward to replying. The Hill has reached out to Equifax and Experian for comment. The letter is the latest in a series of Democratic salvos targeting the administration’s handling of federal student loans, with Warren at the forefront of efforts to hold both the executive branch and private companies accountable.
As the July deadline approaches, the fight over credit reporting accuracy is likely to intensify, with borrowers caught in the middle. The senators’ questions go to the heart of whether the credit bureaus can be trusted to police themselves—and whether the Trump-era rollback of oversight has left consumers exposed to systemic errors.
