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Enforcement Action. The permission purchase calls for scholar Aid Institute and Lamont to:

Enforcement Action. The permission purchase calls for scholar Aid Institute and Lamont to:

The CFPB is authorized to take action against certain institutions engaged in deceptive acts or practices, or that otherwise violate federal consumer financial laws under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

  • Power down debt-relief operations: Student help Institute must turn off credit card debt relief operations.
  • Cancel all agreements with consumers and prevent recharging them: the organization must instantly stop customers that are charging costs because of its solutions. All agreements will additionally be terminated.
  • Stop taking part in your debt relief industry: your order bars scholar help Institute and Lamont from providing, or getting any re re payments from, debt relief solutions.
  • Ensure education loan borrowers usually do not miss crucial payment advantages: The Department of Education requires that education loan borrowers recertify their income-driven repayment plans on a yearly basis. The company must prepare, process, and mail all paperwork necessary to maintain enrollment in the plan for consumers enrolled in any income-driven repayment or forgiveness plan whose annual recertification or renewal deadlines for these programs are within 30 days of the entry of the judgment.