Tagged as: Student Loans

CFPB Investigates National Bank Over Student Loan Servicing Practices

Piggy Bank with a Graduation Cap

On August 3, 2015, a national bank revealed in an U.S. Securities and Exchange Commission filing that its student loan servicing practices are under investigation by the Consumer Financial Protection Bureau (“CFPB”). The bank indicated that it is cooperating with the investigation and anticipates the CFPB may order it to remediate its customers and/or…

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Illinois AG Sues Student Loan Debt Settlement Companies Under State Consumer Protection Laws

Piggy Bank with a Graduation Cap

On May 4, 2015, Illinois Attorney General Lisa Madigan announced five lawsuits filed on behalf of the State against student loan debt settlement services companies based in Texas, California, Florida, Georgia, and Illinois. The complaints allege that the companies violated Illinois’ consumer protection laws by charging hundreds to thousands of…

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