The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief. If entered by the court, the CFPB’s proposed stipulated final judgments would require the National Collegiate Student...
The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst...
January 16, 2025
The Consumer Financial Protection Bureau (CFPB) and the National Collegiate Student Loan Trusts have filed a proposed stipulated judgment to resolve the regulator’s lawsuit alleging that the trusts had illegal debt collection practices. If entered by the court, the proposed stipulated judgment would require the trusts to pay $2.25 million in redress to student borrowers […]
May 06, 2024
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief....
