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Student Loan Creditor, Fined for ‘False’ Lawsuits, Must Halt Collections

Under a federal settlement, the National Collegiate Student Loan Trusts will refund millions to borrowers and temporarily suspend debt collections.

CFPB fines student loan holder, debt collector

The federal government has fined two groups it says illegally attempted to collect student loan debt and prohibited them from further action on recovering payments until audits on all its … Click to Continue »

Collins supporting effort to save Perkins loan program

Maine Sen. Susan Collins is joining an effort to extend the Federal Perkins Loan Program for two years. Collins says the popular program is to set expire on Sept. 30 … Click to Continue »

No Federal Cause of Action in Patent Assignment Dispute

First Data Corp. and Frank Bisignano v. Eric Inselberg and Inselberg Interactive (Fed. Cir. 2017). Interesting tale: Back in 2010 Frank Bisignano loaned Inselberg Interactive (Interactive) $500,000 – a loan personally guaranteed by the company’s owner Eric Inselberg as well as by a security interest in the patents owned by Interactive at the time. Show More Summary

$102 Billion In Credit Card Debt, Student And Auto Loans Was Just "Wiped Away"

While there were few surprises on the surface of today's latest monthly Federal Reserve consumer credit report, which showed that in July total consumer credit increased by $18.5 billion, more than the $15.0 billion expected, on the back of a $2.6 billion increase in revolving credit coupled with $15.9 billion in non-revolving credit... ... Show More Summary

US consumer borrowing increased in July

American consumers borrowed more heavily in July, increasing their debt primarily in a category that includes auto and student loans. The Federal Reserve said Friday that overall consumer credit rose … Click to Continue »

WHAT'S HAPPENING: Harvey deaths up; evacuees leave shelters

2 weeks agoNews : The Newsroom

HOUSTON (AP) — Texas cities are getting some help to stay functioning as they focus on reconstruction after Harvey, with federal loans from the Federal Emergency Management Agency helping keep operations intact.

Federal loans an early step to help cities in Harvey's wake

Texas cities are getting some help to keep focusing on reconstruction after Harvey brought floods and damaged homes across the region. The Federal Emergency Management Agency approved loans to help … Click to Continue »

Wasserman Schultz Aide Pleads ‘Not Guilty’ As Prosecution Drops Hints About A Broader Probe Of Awan

By Jamie Dupree of PBP. Former U.S. House IT aide Imran Awan pleaded not guilty Friday to federal charges that he and his wife lied on an application for a home equity loan, as prosecutors dropped hints about a broader probe of Awan and his family members related to their computer work in recent years for Rep. Show More Summary

SBA assistance available to Idaho nonprofits

Federal officials say certain private nonprofit organizations are eligible for low-interest disaster loans following President Donald Trump's disaster declaration due to heavy flooding, landslides and mudslides that occurred earlier this … Click to Continue »

Real Estate Investor Sentenced to 30 Months

Mortgage Fraud Blog. Thomas L. Boyd, 44, real estate investor, Memphis, Tennessee, was sentenced to 30 months in federal prison for his role in a scheme to fraudulently obtain mortgage loans. An indictment returned last September byShow More Summary

How to graduate college without surprise debt

About half of first-year college students with federal loans underestimated their debt.        

Regulators propose $183M settlement with student loan firm

Federal regulators have proposed a $183.3 million settlement with a student loan company that authorities allege engaged in predatory lending practices. The Consumer Financial Protection Bureau filed a lawsuit and … Click to Continu...

Student loan borrowers owe more, need longer to repay in full

Fewer student loan borrowers are paying down their debt in five years, federal consumer report finds        

Charlotte School of Law Is Expiring

For Charlotte School of Law, the funeral march started a year ago. It began when the American Bar Association suspended its accreditation. Then the Department of Education stopped its federal student loans. Now its license as an educational institution has expired. "[T]o ensure that CSL does not inadvertently run......

Loan Modification Consultant Pleads Guilty to Wire Fraud

Mortgage Fraud Blog. Jeffrey Halpern, 62, Hewlett, New York, pleaded guilty before U.S. District Judge Peter G. Sheridan in Trenton federal court to an information charging him with one count of wire fraud. Halpern was the sole proprietor...Show More Summary

Where To Find Student Loans, And What To Know Before You Sign

In addition to student loans being a pain to pay off, they can also be difficult to understand. Here's the difference between federal and private loans, when you'll need them, and where to find them. Where To Find Student Loans, And What To Know Before You Sign appeared first on Money Under 30. © Moneyblogs, LLC.

Defrauded Students Getting Debt Relief—25 Years Later

One of the largest for-profit college chains in the US was shuttered in 1994 after federal investigations revealed it had defrauded thousands of students by falsely certifying them for federal loans. Ever since, the US government has been collecting on federal student loan debt left behind by students of Wilfred...

FBI raids home of Trump campaign chair Paul Manafort

While multi-million loans from a secret source may buy a nice house, it doesn’t buy protection from this. Federal agents appeared at Paul Manafort’s home without advance warning in the predawn hours of July 26, the day after he met voluntarily...Show More Summary

Wells Fargo accused of denying loans to immigrants in DACA program

Denial of loans based on citizenship status violates a federal law, passed in 1870, and a California civil rights law, U.S. District Judge Maxine Chesney said Thursday in rejecting the bank’s attempt to dismiss the proposed nationwide class-action suit. Show More Summary

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