7 years ago
U.S. cracks down on debt collection of private student loans
The U.S. consumer financial watchdog on Monday ordered National College Student Loan Trusts and its debt collector, Transworld Systems Inc, to pay at least $26.1 million for attempting to collect on possibly non-existent or out-of-date loans. The Consumer Financial Protection Bureau alleged that the companies sued borrowers without being able to prove the debt was owed or pursued collection on loans that were too old to sue over, and relied on false and misleading legal documents.
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http://www.reuters.com
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