Companies and executives that allegedly bilked student-loan borrowers out of $15.6 million will pay $103,000 in penalties

As consumers across the country worry about how they’ll afford next month’s bills amid the coronavirus pandemic, executives accused of bilking student-loan borrowers out of roughly $15.6 million are receiving leniency because of their financial circumstances.

In addition, the settlements ban those allegedly involved in the schemes from working in the debt-relief industry in the future. “This is yet one more reminder for the millions of Americans who get a student-loan bill each month that at every single turn the Trump administration has chosen predatory student-loan companies over their best interests,” said Seth Frotman, the executive director of the Student Borrower Protection Center, an advocacy group, and the former student loan ombudsman at the CFPB.

It’s not uncommon for people accused of financial crimes to pay less than what consumers lost Other agencies do sometimes allow for defendants to pay less than the cost of their illegal activity in cases of financial insolvency.

“Going after large entities is more the kind of thing you would see from an aggressive Democratic appointment, it’s what you see more from aggressive Democratic, elected state [attorneys general],” Cox said. “When you switch leadership that’s typically more aligned with the industry, you tend to see the enforcement either goes away, or it shifts down to smaller more scam-like entities.”

Capitalism at its finest

Well that will show them and make them not try to get those fees again.

All parties must take responsibility COVID Student Loan Relief is public information.

And the nieman marcus execs want bonuses.

Go to Las Vegas even in shoestrings okay Hurry there NOW!! good luck everybody ( ElyBahianaaol.com) PS Vegas Olsen yours machines let them WIN big 1000 x per Month till they get enough$ ( ElyBahianaaol.com)

You know the damn rules of the game. This is a capitalist society and money rules. Sadly.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Most federal student loan borrowers change servicers in December - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They can just pay me...
Source: BusinessInsider - 🏆 729. / 51 Read more »

Most federal student loan borrowers will change servicers in December - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stripe wins business following Wirecard's collapseThe U.S. payments company Stripe is picking up some former Wirecard customers, an executive told Reuters.
Source: Reuters - 🏆 2. / 97 Read more »