7,100 borrowers will receive $3.5 million worth of checks in the mail after the CFPB said they were scammed. The CFPB accused Timemark, a debt relief company, of illegally charging federal borrowers fees. Scams are likely to grow following the Supreme Court decision to strike down student-debt relief. According to the bureau, Timemark charged borrowers "illegal advance fees" to reduce their federal student-loan balances when the Education Department offers those services for free. Over the past few years, the CFPB — along with the Federal Trade Commission — have scrutinized a range of student-debt relief companies over potential fraudulent behavior.

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Persons: Timemark, —, Joe Biden's, scammers Organizations: Service, Consumer Financial, Bureau, Timemark, Inc, Education Department, Epiq Systems, Federal Trade Commission, FTC, Federal Locations: Timemark