A mortgage relief operation has settled Federal Trade Commission charges that they illegally charged upfront fees for services they falsely promised would reduce consumers mortgage interest rates or monthly payments. Collection & Credit Risk
A presidential memorandum signed Tuesday directs federal agencies to overhaul the way Americans repay their student loans, the latest move in a series of steps the Obama administration is taking to promote college affordability and access. Collection & Credit Risk
The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules. News
A total of 952 members of the U.S. armed forces will receive $ 123.4 million from a settlement with five mortgage servicers announced Monday by the U.S. Justice Department. Collection & Credit Risk
Today we took action to put an end to two student loan debt relief scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. In a joint filing with Florida’s Attorney General, we shut down student loan debt relief company College Education Services and, separately, we filed a lawsuit against Student Loan [...]
A U.S. appellate court on Wednesday upheld a district court ruling that several defendants operated a scheme selling phony debt relief programs and mortgage assistance. Collection & Credit Risk
Two federal agencies and 15 states have taken more than 40 actions against foreclosure relief operations, alleging the firms charged distressed borrowers millions of dollars in fees without following through on service. News
Along with other cases from federal and state partners, today we charged that mortgage rescue scammers have taken $ 25 million in illegal advance fees from consumers. It serves as a reminder of how important it is to watch out for scam artists trying to take advantage of people who need help avoiding foreclosure. Federal [...]
