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Student Loans › Unfair or Deceptive Trade Practices › Settlement

Ballard Spahr LLP

Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC

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Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company....more

Orrick, Herrington & Sutcliffe LLP

CFPB reopens case against student loan debt-relief company

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On June 9, the CFPB filed a motion to vacate a stay of proceedings and reopen a case that had been administratively closed since February. In response to the CFPB’s request, the court scheduled a hearing on July 11. The...more

Ballard Spahr LLP

FTC takes action against student loan debt relief companies

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The FTC has recently taken action against two student loan debt relief companies and their owners....more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Defunct Debt-Relief Company to Pay $43 Million for Alleged Student Loan Abuses 

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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

Troutman Pepper Locke

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

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On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Troutman Pepper Locke

Navient Settles with State AG Coalition Over Alleged Unfair, Deceptive, and Abusive Student Loan Origination and Servicing...

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On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair,...more

Goodwin

Virginia AG Settles with Student Debt Relief Company

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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

Goodwin

Minnesota AG Settles with Student Loan Debt-Relief Company for Allegedly Unlawful Fee Collection

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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

Goodwin

CFPB and 47 States Enter Settlement with Holder of Private Student Loans for Allegedly Providing Substantial Assistance in...

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On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed stipulated judgment against a Delaware statutory trust after a settlement agreement was reached between the trust...more

Goodwin

49 State Attorneys General Obtain Nearly $500 Million in Student Loan Debt Relief

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On January 2, 2019, 49 state attorneys general reached a settlement with an Illinois-based for-profit education company, securing approximately $493.7 million in debt relief for over 179,000 students nationwide. The...more

Goodwin

CFPB, Student Loan Securitizer, and Debt Collector Agree to Combined $21.6 Million Settlement for Alleged Illegal Collection...

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On September 18, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a settlement and proposed consent judgment with a student loan owner and securitizer, and a separate consent judgment...more

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