The customer Financial Protection Bureau (CFPB) took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education today. The CFPB is purchasing the pupil credit card debt relief business, scholar Aid Institute, Inc., as well as its ceo, Steven Lamont, to cover a penalty, stop debt settlement solutions, and prevent charging you affected clients. The CFPB can also be forever barring the ongoing business and Lamont through the debt settlement industry.
вЂњWe see increasingly more organizations and web sites demanding big fees that are upfront help education loan borrowers sign up for income-driven plans available 100% free,вЂќ stated CFPB Director Richard Cordray. Continue reading