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Account Recovery
AUGUST 16, 2023
A District Court judge in Michigan has dismissed a lawsuit that challenged an initiative from the federal government seeking to forgive $39 million of student loan debt, determining the plaintiffs lacked standing to sue. Well, that didn’t take very long.
Account Recovery
AUGUST 23, 2023
The Federal Trade Commission on Monday announced it had sued and obtained a temporary restraining order against a number of corporate and individual defendants accused of pretending to be affiliated with the Department of Education so that they could market student loan forgiveness programs that made false promises and collected millions in illegal (..)
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Account Recovery
SEPTEMBER 21, 2023
The Consumer Financial Protection Bureau has denied a petition from the Pennsylvania Higher Education Assistance Agency to set aside a civll investigative demand into whether the servicer maintained adequate policies and procedures to determine whether loans were dischargeable in bankruptcy and if attempts were made to collect on loans that had been (..)
Account Recovery
AUGUST 31, 2022
billion of student loans for all of the 79,000 individuals who attended Westwood College between 2002 and 2015, ruling that the school “engaged in widespread misrepresentations about the value of its credentials for attendees’ and graduates’ employment prospects.”
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Account Recovery
NOVEMBER 11, 2022
A District Court judge in Texas yesterday granted summary judgment in favor of plaintiffs who sued the federal government seeking to block a program that would cancel up to $20,000 of student loan debt for individuals making less than $125,000 annually, ruling that the Biden Administration overstepped its authority when it created the program without (..)
Account Recovery
MAY 15, 2023
The moratorium on student loan payments has cost the federal government $160 billion in lost assets and the federal government should be ordered to force individuals with unpaid student loan debts to start repaying them, according to a nonprofit think-tank that is seeking a preliminary injunction against the Department of Education.
Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM
Many US banks are bracing for increased defaults and lower demand for mortgages and other loans as interest rates have increased. Global economic conditions are soft at best. From a budget standpoint, US banks are feeling the pinch. The largest banks have increased reserves to protect against deteriorating economic conditions.
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