$62 Million Settlement Regarding Student Loan Debt Relief Plan

School students

On November 19, the FTC agreed to a settlement case accusing defendants of engaging in deceptive practices when marketing student loan debt relief services. The FTC claimed that the firms violated the FTC Act and TSR by, among other things, charging unfair and illegal up-front fees to bring on consumers in their debt relief programs, among many other claims.

Under the settlement order, the defendants are banned permanently from offering debt relief products and services, among other requirements. The defendants are also required to provide $62 million in monetary relief to the students.

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