The Federal Trade Commission (FTC) has issued refunds totaling more than $4.1 million to 27,584 consumers who were deceived by a student loan debt relief scam. The scammers falsely promised loan forgiveness and illegally took money from individuals seeking help with their student loans. This action is part of a broader initiative by the Biden Administration and State Attorneys General to combat fraudulent practices and eliminate 'junk fees' associated with loans and other consumer services. The administration's efforts aim to reduce costs for consumers and address corporate malpractices.
Biden administration announces it will take action against junk fees for college students and student loan borrowers https://t.co/G9zA5xm8PE https://t.co/lbPLIlrUqW
President Biden and Democrats are working to lower costs by stopping hidden junk fees. We’re fighting for consumers and against corporate greed.
The Federal Trade Commission is sending $4.1 million to 27,584 consumers who were defrauded by a student debt relief scam. https://t.co/fBIKnE1tpo
The FTC announced it is refunding $4.1 million to 27,584 consumers who fell victim to student debt forgiveness scams. https://t.co/VmVSnwugQv
The Biden Administration and State Attorneys General continue to take aim at eliminating “junk fees” https://t.co/c4BnGVNo65
Biden’s Federal Trade Commission refunds $4 MILLION to student borrowers involved in loan scams https://t.co/LKJN6zLjW6 https://t.co/LKJN6zLjW6
FTC sends more than $4.1 million in refunds to people who lost money to student loan debt relief scheme. Agency said scammers lured consumers with fake loan forgiveness and pocketed their money: https://t.co/7IRSR7nMNb