The FTC is sending over $4.1 million in refunds to people who lost money in student loan forgiveness scams. Here's what to know.
More than $4.1 million in refunds are being sent to people who lost money to student loan forgiveness scammers.The Federal Trade Commission on Wednesday announced the refunds for victims who were lured by fake loan forgiveness claims. The alleged scheme used many names, including Mission Hills Federal, Federal Direct Group, National Secure Processing, and The Student Loan Group, the FTC said.
" "The operators also tricked consumers into sending their monthly student loan payments directly to the defendants by falsely claiming to take over the servicing of the consumers’ loans," the agency said.But in reality, few payments were actually applied to the borrower’s student loans – and in many cases – none at all. Instead, the scammers pocketed the money.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTC, HHS Seek Public Comment on Generic Drug Shortages and Competition Amongst Powerful MiddlemenJoint request seeks information on impact of group purchasing organizations and drug wholesalers on access to generic pharmaceuticals
Read more »
Cable Firms to FTC: We Shouldn’t Have to Let Users Cancel Service With a ClickCustomers may “misunderstand the consequences of canceling,” cable lobby says.
Read more »
FTC, HHS Request Patient Information on Drug Shortages, Pharmaceutical MiddlemenAs the ADHD medication shortage drags on, the Federal Trade Commission and U.S. Department of Health and Human Services seek public input on how pharmaceutical intermediaries may influence drug prices and availability.
Read more »
FTC and 9 states sue to block Kroger-Albertsons supermarket mergerThe deal would combine the country's two largest grocery store chains. The companies say they have to merge to compete with Walmart.
Read more »
FTC sues to stop Albertsons/Kroger mergerThe action by the FTC follows lawsuits filed earlier this year in Colorado and Washington to block the merger. The states that joined the FTC lawsuit Monday are Arizona, California, Illinois, Maryl…
Read more »
Peltola counts FTC action against supermarket merger as a win for bipartisanshipAlaska U.S. Rep. Mary Peltola's address to state Legislature was infused with her brand of unity politics.
Read more »