August 28, 2020

CFPB, States Settle With 4 In Student Loan Debt-Relief Case

CFPB, States Settle With 4 In Student Loan Debt-Relief Case

Law360 (August 28, 2020, 11:08 PM EDT) — Federal and state authorities have bagged partial settlements in their California federal court case against an alleged student debt-relief operation accused of raking in tens of millions in illegal advance fees, securing largely suspended judgments that include $1 fines from the Consumer Financial Protection Bureau.

U.S. District Judge Michael W. Fitzgerald finalized two settlements on Wednesday and Friday that call for defendants Prime Consulting LLC, Horizon Consultants LLC and Tuong Nguyen to pay penalties totaling $90,000 to California, Minnesota and North Carolina and fines of $1 each to the CFPB, sparing them full payment of $95 million in ordered redress in…

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