Student Loans

President Joe Biden wasted no time getting to work after his inauguration yesterday, signing a number of executive orders, including at least one that will impact the accounts receivable management industry. The newly sworn in president signed 15 executive actions yesterday, making changes to policies enacted by former President Donald …

The Attorney General of Minnesota has obtained a settlement with a student loan debt relief company that illegally collected fees from individuals and misrepresented its services that will see the company pay the state more than $11,000 and cease operations in the state. The company, Document Assist Center, is based …

A pair of officials in the Trump administration with ties to the accounts receivable management industry announced their resignations yesterday in response to what happened in Washington, D.C., earlier this week. Betsey DeVos, the Secretary of Education, and Mick Mulvaney, the U.S. envoy to Northern Ireland who was formerly the …

In the closing hours of its legislative session, the Massachusetts legislature this week passed a bill that, among other things, will require servicers of student loans to now obtain a license while also establishing a student loan ombudsman office that will be charged with identifying trends, including unfair and deceptive …

The Consumer Financial Protection Bureau yesterday issued a consent order against a student loan servicing company for violating a prior consent order in which it was accused of mis-stating minimum amounts due on billing statements and engaging in illegal debt collection practices. In this newest consent order, Discover Bank, the …

The Attorney General of Pennsylvania has stopped a company offering student loan debt relief services from operating in the state, forced it to repay $74,000 to individuals who were scammed, and pay a $50,000 fine as part of an announced settlement. The settlement, which was in the form of an …

There is a growing drumbeat for President-elect Joe Biden to cancel some or all of the outstanding student loan debt in America, and proponents of that plan say it would be a boost for the economy should he do it. But a report released last week argues that canceling student …

A group of consumer advocacy organizations have published a guide to help individuals with student loans navigate their way through the COVID-19 pandemic and beyond, offering a “roadmap” to provide “substantial relief” to the 44 million individuals who have student loan debt. Among the ideas published in the guide are: …

A group of 238 state and federal consumer organizations have written a letter to President-elect Joe Biden and Vice President-elect Kamala Harris asking them to cancel all federal student debt on their first day in office. The groups, which include the National Consumer Law Center, the American Federation of Teachers, …

The Attorney General of Maryland has announced a settlement between his office and a third-party debt buyer that will result in $2.7 million of debt relief for individuals who attended a for-profit college that lost its accreditation, closed its doors, and had its assets sold by a court-appointed receiver. The …