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On June 9, the CFPB filed a complaint and proposed order in California federal district court
seeking final judgment against the owner of a student loan debt
relief company for allegedly withdrawing more than $240,000 from
the bank accounts of student borrowers without authorization.
According to the complaint, the defendant, through his company,
obtained student loan account and billing information for hundreds
of borrowers without the borrowers’ knowledge or consent from
another student loan debt relief operation that the CFPB previously
shut down, and subsequently used that information to withdraw
unauthorized funds from student borrowers’ bank accounts. The
Bureau alleges that through his…
