On June 14, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a private student loan provider that issued and managed student loans at the now-defunct for-profit ITT Technical Institute. Forty-five states including Kansas, Florida, Nevada, North Carolina, Iowa, Missouri, Kentucky, Ohio, Oregon, and New York also settled with the loan…
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 settlement is the result of a five-year investigation, which began in 2014 after states received complaints from students and the U.S. Senate’s Health, Education, Labor and Pensions…
On December 7, 2018, the Federal Trade Commission (FTC) announced settlements with the operators of two Florida-based student loan debt relief companies and their principals in connection with its coordinated federal-state enforcement initiative to target deceptive student loan debt relief scams, called “Operation Game of Loans.” In September and October 2017, the FTC…
On December 7, 2018, the Federal Trade Commission (“FTC”) announced that the U.S. District Court for the Southern District of Florida had entered stipulated orders banning the operators of two Florida-based student loan debt relief providers from the debt relief business, the latest actions from the Operation Game of Loans enforcement initiative targeting…
On November 20, 2018, the Federal Trade Commission (FTC) announced that a federal court issued an injunction to halt and freeze the assets of a California-based student loan debt relief scheme. Two weeks prior, the FTC filed a complaint against the operators of the scheme, alleging deceptive acts and practices in violation of Section 5(a)…
On Monday, October 29, 2018, the Federal Trade Commission (“FTC”) announced that it reached a settlement agreement with an online student loan refinancer relating to charges that the company deceptively advertised inflated figures for more than two years, in violation of the FTC Act, 15 U.S.C. § 45. According to the complaint,…
On September 28, 2018, the Federal Trade Commission (FTC) announced that it had reached a settlement with loan debt relief operators in connection with the coordinated federal-state enforcement initiative to target deceptive student loan debt relief scams, called “Operation Game of Loans.” According to the FTC, the operators violated the federal law by allegedly…
On June 11, the Federal Trade Commission (FTC) announced that it had settled claims against an individual and his loan debt relief companies in connection with its coordinated federal-state enforcement initiative to target deceptive student loan debt relief scams, called “Operation Game of Loans.” Enforcement Watch covered a similar enforcement action earlier…
On June 14, 2018, the California Attorney General announced that it had entered into a settlement with a company holding nearly 35,000 private student loans across California. In the complaint, which was filed on June 13, 2018, the Attorney General alleged that the company had engaged in unlawful debt collection…
On May 31, the Federal Trade Commission (FTC) announced that it settled claims against a student loan debt relief company as part of a coordinated federal-state enforcement initiative to target deceptive student loan debt relief scam called “Game of Loans.” The FTC settled allegations that a student loan debt relief company violated…