Can’t Pay Bills Because of Covid-19? Here Are Some Loan Alternatives

As a response to the coronavirus pandemic, multiple banking regulators, including the Federal Reserve and the FDIC, are urging banks to consider lending small personal loans to consumers and businesses, in a joint statement released March 26. Some civil rights and consumer advocacy groups, including the National Consumer Law Center and the NAACP, have criticized … Read more

New Jersey Has Its Own Student Loan Rights Law for 2020

Attorney Edward Hanratty sent in the following information. The state of New Jersey has enacted a law that protects student loan borrowers from abuse by student loan lenders. NJHESAA/NJCLASS, are you listening? It requires that student loan lenders, other than the federal government and big banks, be licensed and regulated by the state of New … Read more

FTC Disconnects Pointbreak Media Robocall Scheme Defendants

Callers falsely claimed company represented Google, sought fees between $300 and $700 for first-page placement in online search results listings At the Federal Trade Commission’s request, a U.S. district court in Florida granted summary judgment against two individuals, approved six settlement agreements involving 11 defendants, and entered a default judgment against the remaining seven defendants, … Read more

Former IRS Employee Convicted of Tax Evasion

A federal jury in Las Vegas, Nevada, yesterday convicted Craig P. Orrock, a former attorney and former Internal Revenue Service (IRS) employee, of tax evasion and obstructing the internal revenue laws, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division, U.S. Attorney Nicholas A. Trutanich for the District of … Read more

Consumer Financial Protection Bureau Settles with Student CU Connect CUSO over ITT Private Loan Program

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) recently announced a settlement with Student CU Connect CUSO, LLC (CUSO), a company set up to hold and manage private loans for students at ITT Technical Institute.  The Bureau filed a complaint and a proposed stipulated judgment in federal district court for the Southern District of … Read more