cracking down on unfair practices

Wells Fargo Reportedly Under Federal Investigation Related To Student Loan Servicing

Wells Fargo Reportedly Under Federal Investigation Related To Student Loan Servicing

According to a new report, Wells Fargo is the latest big-name bank to be scrutinized as part of the Consumer Financial Protection Bureau’s ongoing investigation into student loan servicing practices.
[More]

Citigroup Facing Federal Investigation Into Student Loan-Servicing Practices

Citigroup Facing Federal Investigation Into Student Loan-Servicing Practices

Just last month federal regulators announced that an ongoing probe into potentially unscrupulous student loan-servicing practices resulted in nearly $18.5 million in refunds and fines from Discover Bank. Now, regulators appear to have Citigroup in their crosshairs, as the financial company announced it was party to an investigation. [More]

Discover Bank Must Pay $18.5 Million Over Illegal Student Loan Servicing Practices

Discover Bank Must Pay $18.5 Million Over Illegal Student Loan Servicing Practices

As federal regulators continue to probe potentially unscrupulous student loan servicing practices, the Consumer Financial Protection Bureau has ordered Discover Bank and its affiliates to pay nearly $18.5 million in refunds and fines for, among other things, overstating amounts due on student loans and failing to notify borrowers of their rights. [More]