Archive for January, 2022

FTC Announces Settlement With Remaining Defendants in Student Loan Debt Relief Action

FTC

On January 26, 2022, the Federal Trade Commission (FTC) announced that it resolved claims against the remaining defendants in an action concerning student loan debt relief products and services that commenced in 2019.  As we ​​previously reported​, the FTC filed a complaint ​against a collection of interrelated companies in November 2019, alleging that they used fraudulent…

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CFPB Settles With Chicago-Based Payment Processer Over Services Provided to Telemarketers

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On January 18, the Consumer Financial Protection Bureau (CFPB) announced that it had agreed to a settlement with a payment processing company, resolving allegations that the company assisted third parties in profiting from fraudulent services and products.  The proposed stipulated judgment, if entered by the court, will resolve allegations that the company was processing…

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39 State Attorneys General Reach $1.85 Billion Settlement With Student Loan Servicer

On January 13, thirty-nine state Attorneys General announced that they had reached a settlement with a national student loan servicer.  The settlement resolves allegations that, since 2009, the servicer had been steering borrowers into higher-cost, longer-term forbearance arrangements.  The Attorneys General alleged the practices increased borrower loan balances and violated various provisions of each state’s laws. …

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CFPB Files Complaint Against New York-Based Debt Collectors

CFPB sign

​On January 10, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint​ against three New York-based debt collection companies and their owners.  The CFPB alleged the companies sold debts to collection companies that used unlawful collection tactics. Specifically, the CFPB alleged the companies knew or should have known that the…

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