Student Loan Debt Relief Scammers Permanently Banned from Industry, Ordered to Turn Over Assets under Proposed Order

Two groups of student loan debt relief scammers will be permanently banned from the debt relief industry and are required to turn over their assets as part of a settlement with the Federal Trade Commission.

Metadata

Provider:

FTC

URL:

https://www.ftc.gov/news-events/news/press-releases/2023/10/student-loan-debt-relief-scammers-permanently-banned-industry-ordered-turn-over-assets-under

Retrieved on:

Monday, October 16, 2023

Information

Tags:

Federal Trade Commission, FTC, Douglas v. U.S. District Court ex rel Talk America, COVID-19, Castillo, Student, Central District, Commission, CARES Act, Blog, District court, Consumer protection, Program, BCO, News, Office of Inspector General, U.S. Department of Health and Human Services, Social media, United States Secretary of Education, Bhakti

Geotags:

CALIFORNIA

Summary

Key Points:

Two groups of student loan debt relief scammers will be permanently banned from the debt relief industry and are required to turn over their assets as part of a settlement with the Federal Trade Commission.
The SL Finance defendants also falsely claimed that their program was part of the CARES Act or a similar COVID-19 relief program, according to the complaint.
Under the proposed orders with SL Finance, its owners, and BCO Consulting and its owners, the defendants will be permanently banned from debt relief of any kind.
They will also be banned from making any misrepresentations about financial products or services and from using false statements to collect consumers’ financial information.