Post-Election Analysis and Its Impact on the Debt Settlement Industry
Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing
State AG Pulse | Action By MN AG Ellison Could Ripple Through Debt Servicing Industry
On today’s episode of AD Nauseam, Amy Mudge and Daniel Kaufman discuss recent FTC enforcement trends, highlighting a return to traditional consumer protection cases such as fraud, earnings claims, and debt relief. They...more
An ex parte temporary restraining order has been issued against the participants in a debt relief services scheme that allegedly targeted seniors, including veterans, using a variety of deceptive practices, including falsely...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
The CFPB has taken action to permanently ban Student Loan Pro and its owner, Judith Noh, from offering consumer financial products or services....more
On December 4, the CFPB filed a proposed stipulated judgment against a student loan debt-relief company and its owner to resolve its 2021 action against defendants for allegedly charging borrowers more than $3.5 million in...more
On October 11, 2024, the California Office of Administrative Law approved the California Department of Financial Protection and Innovation’s (department) final regulations (rule) under the California Consumer Financial...more
On July 11, the Federal District Court for the Middle District of Florida granted the FTC’s request for a temporary restraining order against operators of a debt relief enterprise that unlawfully charged consumers illegal...more
On May 20, the CFPB released its consent order and stipulation against a debt relief provider for alleged deceptive acts and practices in violation of the CFPA and for alleged deceptive telemarketing practices and collection...more
On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving...more
On May 20, 2024, the CFPB announced a settlement with a telemarketing company that offers student loan debt relief services to resolve allegations that it violated the Telemarketing Sales Rule ("TSR") and the Consumer...more
On March 4, 2024, a federal trial court in New York immediately banned a slew of debt relief service providers from charging and/or collecting any advance fees for debt relief services, finding that the defendant’s initial...more
In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more
The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more
The White House recently announced that approximately 813,000 borrowers whose accounts were adjusted in August 2023 will receive an email from President Biden that their loans are being forgiven. This is based on the U.S....more
Borrower Defense to Repayment (BDR) refers to the administrative process by which borrowers apply to the U.S. Department of Education (ED) to have their federal Direct Loans discharged based on allegations of school...more
On May 8, 2023 the FTC announced that it filed complaints against two loan forgiveness and debt relief companies on April 24, 2023 alleging that they falsely claimed to be affiliated with the Department of Education....more
On May 8, the FTC announced that the U.S. District Court for the Central District of California recently issued temporary restraining orders (TROs) against two student loan debt relief companies that allegedly tricked...more
On February 16, the DOJ filed a complaint on behalf of the FTC against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with debt relief...more
On November 18, 2022, the Minnesota Attorney General’s Office (Minnesota AG) announced that it entered into a consent order with a California student-loan debt-relief company to resolve allegations that the company illegally...more
On November 21, 2022, the U.S. District Court for the Middle District Of Tennessee granted the Federal Trade Commission's (FTC’s) ex parte motion for, among other relief, a temporary restraining order (“TRO”) to shut down an...more
Last week, the Department of Justice (DOJ) and the Department of Education (DOE) distributed guidance to the legal community clarifying the process for the discharge of federal student loans in bankruptcy proceedings. The...more
Late on Friday, October 21, the 8th Circuit Court of Appeals issued a stay of the Biden-Harris administration’s Student Debt Relief Plan while it considers a lawsuit brought by six Republican state attorneys general to block...more
On Thursday, October 20, the Biden-Harris Administration’s Student Debt Relief Program prevailed in two early legal cases challenging the plan. Justice Amy Coney Barrett denied an emergency bid to obstruct the program from a...more