A new lawsuit filed by the CFPB in a California federal district court alleges that the defendants, a company and its individual owner, are engaged in a nationwide student financial aid scam. In addition to injunctive relief, the complaint seeks redress for harmed consumers and civil money penalties.
According to the CFPB’s complaint, the defendants contacted students and their families using letters and envelopes with images intended to create the false impression that the defendants were affiliated with the federal government or a college. … Continue Reading