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Now It’s Fabricated or Unenforceable Student Loans
by Neil Garfield
The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst nonexistent.
The Consumer Financial Protection Bureau (CFPB) specifically alleges that the firms would drag “borrowers” into court or pursue aggressive collection action…