The CFPB accused a student-debt relief company, Performance SLC, of illegally charging borrowers fees.
The company didn't admit any wrongdoing but is no longer allowed to offer debt relief services.
Performance never admitted any wrongdoing and agreed to a settlement that bans the company from engaging in any debt relief services going forward.
Over the past few years, the CFPB has been getting relief to thousands of borrowers after paying companies for debt relief services that are free of charge with the federal government.
In 2022, for example, the CFPB accused five student debt relief companies of charging consumers unnecessary fees, resulting in a total payment amount to consumers of about $19 million.
Persons:
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Organizations:
Service, Consumer Financial, Bureau, Education Department, Consulting, The Education Department
Locations:
California