CFPB v. Frank Ronald R. Gebase, Jr.

On June 9, 2022, The CFPB and the defendants entered a consent judgement order. The Bureau alleged that Gebase founded, owned, and operated a student loan debt-relief company named Processingstudentloans, which obtained student loan account and billing information for hundreds of former SAI consumers without their knowledge or consent. The Bureau alleged that Processingstudentloans collected fees from consumer bank accounts even though they had never signed any agreements with the company or otherwise consented to the withdrawals. The Bureau alleged that through his actions as Processingstudentloans’ chief executive, Gebase engaged in and substantially assisted in unfair acts and practices in violation of the Consumer Financial Protection Act of 2010 (CFPA).