Students and Young Consumers Empowerment Act

HR 6692 establishes a new Assistant Director and Student Loan Borrower Advocate position within the Consumer Financial Protection Bureau. This role coordinates with the Department of Education and handles complaints from borrowers with both federal and private student loans, while producing annual reports on student loan risks, campus banking practices, and young consumers' financial products. The bill creates an Office for Students and Young Consumers to educate borrowers and coordinate federal/state consumer protection efforts. It requires the Department of Education to enter a formal agreement with the Advocate to share relevant data and coordinate complaint resolution, without accessing personal financial information. The law directly affects student loan borrowers, financial institutions, and federal agencies managing student aid programs.