Category: Student loans

CFPB Seeks Ban Against Operator of Student Loan Debt Relief Scam Reboot

Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB …

Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB alleges that Frank Gebase, Jr. controlled a company that took the borrowers’ money after obtaining their names and account information from a previous student-loan debt-relief scammer that the CFPB shut down.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-seeks-ban-against-operator-of-student-loan-debt-relief-scam-reboot/

CFPB Director Chopra Statement on Edfinancial and Student Loan Cancellation for Public Service

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-director-chopra-statement-on-edfinancial-and-student-loan-cancellation-for-public-service/

CFPB Sanctions Edfinancial for Lying about Student Loan Cancellation

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sanctions-edfinancial-for-lying-about-student-loan-cancellation/

Consumer Financial Protection Bureau to Examine Colleges’ In-House Lending Practices

Today, the Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students.

Today, the Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-to-examine-colleges-in-house-lending-practices/

CFPB Joins Other Financial Regulatory Agencies in Issuing Statement on Discontinuation of LIBOR

The Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies and state bank and credit union regulators today in issuing a statement highlighting the risks posed by the discontinuation of LIBOR (originally an …

The Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies and state bank and credit union regulators today in issuing a statement highlighting the risks posed by the discontinuation of LIBOR (originally an acronym for London Interbank Offered Rate).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-joins-other-financial-regulatory-agencies-in-issuing-statement-on-discontinuation-of-libor/

CFPB Takes Action Against Operators of An Unlawful Student Loan Debt-Relief Scheme

The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-operators-of-an-unlawful-student-loan-debt-relief-scheme/

CFPB Private Education Loan Ombudsman Issues 2020 Annual Report

On October 28, 2020, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued the 2020 Annual Report, which shows that that from September 1, 2019, through August 31, 2020, the Bureau handled approximately 7,000 complaints relat…

On October 28, 2020, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued the 2020 Annual Report, which shows that that from September 1, 2019, through August 31, 2020, the Bureau handled approximately 7,000 complaints related to private or federal student loans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-private-education-loan-ombudsman-issues-2020-annual-report/

Consumer Financial Protection Bureau Announces Podcast Series on Paying for Higher Education

The Consumer Financial Protection Bureau today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college.

The Consumer Financial Protection Bureau today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-podcast-series-paying-higher-education/

Consumer Financial Protection Bureau Report Examines Early Impact of Pandemic on Consumer Credit

The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.

The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-examines-pandemic-impact-on-consumer-credit/

Consumer Financial Protection Bureau Releases Online Tool to Help College Students Determine How to Pay for College

To help students navigate paying for college, the Consumer Financial Protection Bureau released the "Your Financial Path to Graduation" web tool designed to help students clearly understand the total cost of attending college and make informe…

To help students navigate paying for college, the Consumer Financial Protection Bureau released the "Your Financial Path to Graduation" web tool designed to help students clearly understand the total cost of attending college and make informed decisions about paying for their education.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-online-tool-help-college-students-determine-how-pay-college/