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CFPB and State AGs Seek Preliminary Injunction in Suit Against Student Loan Debt Relief Companies

​On October 21, 2019, the Consumer Financial Protection Bureau (CFPB) announced that, together with the Attorneys General (AGs) of Minnesota, North Carolina, and California, it had filed a complaint and sought a temporary restraining order in the U.S. District Court for the Central District of California against a group of debt relief companies. …

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FTC Settles With Operators of Alleged Student Loan Debt Relief Schemes

On September 12, 2019, the Federal Trade Commission (FTC) announced that it had settled lawsuits​ against the operators of two alleged student loan debt relief schemes, and a financing company that assisted them, alleging that they had bilked millions of dollars from consumers.  The FTC alleged that the defendants violated…

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CFPB Settles With Payday Lender for $100,000

​On February 5, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a regional retail payday lender, resolving allegations that the lender violated the Consumer Financial Protection Act (CFPA).  Specifically, the CFPB alleged that the lender failed to take adequate steps to prevent unauthorized charges; failed to promptly monitor, identify,…

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