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The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

On December 22, 2020, the Consumer Financial Protection Bureau issued a consent order against Discover Bank, The Student Loan Corporation, and Discover Products, Inc. based on violations of a prior Bureau order, the Electronic Fund Transfer Act, and the Consumer Financial Protection Act of 2010.

On October 28, 2020, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued the 2020 Annual Report, which shows that that from September 1, 2019, through August 31, 2020, the Bureau handled approximately 7,000 complaints related to private or federal student loans.

The Consumer Financial Protection Bureau released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college.

The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.

To help students navigate paying for college, the Consumer Financial Protection Bureau released the "Your Financial Path to Graduation" web tool.

The Consumer Financial Protection Bureau and the U.S. Department of Education announced a new coordination agreement in order to better serve student loan borrowers.

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Student CU Connect CUSO, LLC (CUSO), a company set up to hold and manage private loans for students at ITT Technical Institute.

Five federal financial institutions regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown.

Company Deceived Borrowers About Tax Benefits, Incorrectly Charged Late Fees and Interest, Sent Misleading Monthly Bills and Incomplete Notices.

CFPB Heard More Than 20,000 Borrower Complaints Last Year Highlighting Widespread, Persistent Servicing Problems.

All 800,000 Loans Will Be Independently Audited, Companies Will Pay at Least $21.6 Million and Stop Suing for Invalid or Unverified Debts.

Bureau’s Proposed Settlement Seeks $183.3 million in Relief for 41,000 Harmed Student Borrowers.

Record Student Debt Spurring Employers to Offer Student Loan Repayment Benefits.

Consumer Bureau Launches “Certify Your Service” Campaign to Help Teachers, First Responders, and Other Public Servants Stay on Track.

Consumer Bureau Launches “Certify Your Service” Campaign to Help Teachers, First Responders, and Other Public Servants Stay on Track.

Nearly Half of the Highest-Risk Borrowers Not Enrolled in an Affordable Repayment Plan Redefault.

Bureau Recovered $6.1 Million for 16,000 Consumers Harmed By Auto Loan Originators.

Report Also Looks at Consumer Complaints from Nevada.

Errors in your college enrollment record can affect your finances in ways you don’t expect.

Navient, Formerly Part of Sallie Mae, Illegally Cheated Borrowers Out of Repayment Rights Through Shortcuts and Deception.

Today the Bureau is filing a lawsuit against Navient (formerly part of Sallie Mae), which is the nation's largest servicer of both federal and private...

Growing Concerns as Number of Older Student Loan Borrowers Quadruples, Amount of Debt Per Senior Borrower Doubles in Last Decade.

Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets.

On behalf of the Bureau, let me welcome all of you and say that we much appreciate this opportunity to discuss consumer financial markets with so many...