WASHINGTON, March 17 (UPI) — A consumer watchdog group recommended a student loan debt relief company accused of preying on student loan borrowers be shuttered and the company reimburse thousands of borrowers who paid some $8.2 million in illegal fees.
The Consumer Financial Protection Bureau requested a federal court enter a final judgement against Student Loan Processing.US and the company’s owner, James Krause, be banned from any future involvement in debt relief and student loan services.
“I applaud today’s announcement by the Consumer Financial Protection Bureau that it has taken action to shut down Student Loan Processing, a company that was charging borrowers exorbitant fees for services they can access for free through stud…
Read the full article at: http://www.upi.com/Top_News/US/2016/03/17/Feds-move-to-shutter-student-loan-debt-relief-company/6211458224026/