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 May 1, the U.S. District Court for the Northern District of Illinois ordered the former owner of a now-defunct debt-relief company to pay over $43 million in restitution and penalties. The order resolves a lawsuit filed...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 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
In this month's article, we share some of our top "bites" covered during the June 2024 webinar....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
Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement actions related to debt collection and debt...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
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
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
In this month's article, we share some of our top "bites" for the prior month covered during the April 2023 webinar....more
On February 14, 2023, the Minnesota Attorney General (AG) announced a settlement with a California-based student-loan debt relief company to resolve allegations that the company operated a fraudulent student loan debt...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
HIGHLIGHTS: The CFPB announced a complaint against a single defendant - the owner of a student loan debt relief company - concerning unauthorized charges and withdrawals from student borrower accounts in violation of the...more
On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more
On August 9, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a settlement agreement with a Tustin-based student loan debt relief company, resolving...more
On May 17, 2021, the Federal Trade Commission (FTC) announced a settlement with several student loan debt relief companies and their respective owners. The settlement stems from a complaint filed in 2019, in which the...more
On March 3, Virginia’s Attorney General announced that the state reached a settlement with a student debt relief company for alleged Virginia Consumer Protection Act (VCPA) violations. The simultaneously filed complaint...more
On February 3, 2021, California’s Department of Financial Protection and Innovation (DFPI) announced that it has commenced its first formal enforcement action and launched a separate investigation into student loan debt...more
On February 10, 2021, the Federal Trade Commission (FTC) announced that it will begin distributing over $1.7 million to consumers that it claims lost money as a result of an alleged student loan debt relief scheme. The...more
On February 3, 2021, the California Department of Financial Protection and Innovation (DFPI) announced its first formal enforcement action against an Irvine-based student debt relief company. The DFPI’s action alleges...more
On February 4, 2021, the California Department of Financial Protection and Innovation (DFPI) launched an investigation into whether four California-based student-loan debt-relief companies violated the new California Consumer...more
On January 14, 2021, Minnesota Attorney General Keith Ellison (Minnesota AG) announced that his office reached a settlement with a California-based student loan debt-relief company that allegedly collected unlawful fees...more
Student Lending CFPB Enforcement: Alleging Impermissible Debt Relief Service Advance Fees - Director Kraninger has outlined in various settings, the Bureau’s focus on protecting those often most vulnerable, including...more
On July 8, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with a Florida-based student debt relief company and three of the company’s officers. The complaint, which was filed in...more