The Federal Trade Commission, along with Illinois and 10 other states, on Friday announced a coordinated crackdown on student loan debt relief scams.
The initiative, dubbed Operation Game of Loans, includes 36 actions by the FTC and state attorneys general against companies alleged to have taken more than $95 million in illegal upfront fees over several years from consumers seeking to alleviate student loan debt.
In addition to the upfront fees, the actions allege the companies used deceptive advertising to lure consumers with false promises to help reduce or forgive student debt and pretended to be affiliated with the government or loan servicers in violation of federal telemarketing rules and the FTC Act.
The G…
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