Education

Overdraft Fees For Student Credit Cards Banned

Final regulations announced by the Obama Administration and the Department of Education will add new consumer protections to bank accounts and prepaid cards used to access student loans. These new protections will ensure that students can access their student loan proceeds without incurring confusing or excessive fees and improve student choice when selecting a...

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Attorneys General Want Federal Pressure Against For-profit Colleges To Repay Student Loans

August 18, 2015
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AG Jepsen Joins Multistate Effort Supporting Victims of Predatory For-profit Schools Eleven state attorneys general advocate for ease and clarity for students seeking to discharge loans after being victimized Attorney General George Jepsen today joined with 10 fellow attorneys general from around the country in calling on the U.S. Department of Education to cancel...

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Feds Order Discover Bank To Pay $18.5 Million For Illegal Student Loan Servicing Practices

Discover’s Illegal Servicing Practices Affected Private Student Loan Borrowers Transferred from Citibank The Consumer Financial Protection Bureau (CFPB) has taken action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements and denied consumers information they needed to...

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Feds Crack Down On Student Financial Aid Services For Illegal Billing

Company to Pay $5.2 Million for Illegally Billing Over 100,000 Consumers Today the Consumer Financial Protection Bureau filed a complaint and proposed consent order in federal court against Student Financial Aid Services, Inc. for illegal sales and billing practices. The Bureau alleges that the company, which until recently operated FAFSA.com, lured in consumers with...

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