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Friday, December 12, 2014

CFPB Takes Action Against Two Student Debt Scams

The CFPB, in a joint filing with Florida’s Attorney General, took action against two student debt relief companies that illegially tricked borrowers into paying upfront fees for federal loan benefits. The bureau issued a consumer advisory in response to the scams, warning student loan borrowers to be wary of paying high fees for free federal loan benefits, such as letting borrowers set their monthly payment based on their income.

Read the press release.

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