The customer Financial Protection Bureau (CFPB) took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education today. The CFPB is buying the pupil debt settlement business, scholar help Institute, Inc., as well as its ceo, Steven Lamont, to pay for a penalty, stop debt settlement solutions, and prevent charging affected customers. The CFPB can be forever barring the business and Lamont through the credit card debt relief industry.
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