EvilCorporations.com / Investigation Federal regulators say two companies charged struggling student-loan borrowers hundreds to over a thousand dollars each for loan forgiveness that the government provides directly, for free. A federal court has now frozen the operation. TL;DR The FTC…
TL;DR CASE: FTC v. Panda Benefit Services, LLC, et al. — Case No. 8:24-cv-01386-CAS-RAOx, U.S. District Court, Central District of California. Default judgment issued May 6, 2025. THE SCAM: Three corporate affiliates, operating under the Panda Benefit Services umbrella, cold-called…
Predatory Lending • Student Debt • State Enforcement Navient’s Debt Trap: Arizona Sues Over Student Loan Lies and Deliberate Sabotage EvilCorporations.com • Arizona Superior Court, Case Filed January 13, 2022 • 6 min read TL;DR Arizona’s Attorney General sued Navient…
TL;DR BCO Consulting Services, Inc. and its operators targeted student loan borrowers, charging them fees while pretending to provide real debt relief. The FTC charged them with deceptive acts and practices violating the FTC Act, the Telemarketing Sales Rule, and…
FTC v. Elegant Solutions, Inc. et al. • Case No. SACV 19-1333JVS (KESx) They Took Your Loan Payment and Kept It EvilCorporations.com • C.D. Cal. Final Judgment, July 17, 2020 • 28 min read TL;DR Five companies and four individual…
FTC Enforcement • Student Loan Fraud They Charged Students for a Scam and Called It Debt Relief EvilCorporations.com • Case No. 8:23-CV-01495-SB-JDEx • 22 min read TL;DR A company called Intercontinental Solutions LLC and a sister entity called Express Enrollment…
The $20.3 Million Student Debt Lie TL;DR A network of shell companies, operating as a common enterprise, extracted over $20.3 million from people buried in student loan debt. They used high-pressure telemarketing and deceptive mailers to make false promises, including…
American Financial Benefits Center: A Predatory Loan Scheme Unmasked TL;DR The Scam: American Financial Benefits Center (AFBC) and its affiliates ran a deceptive telemarketing operation targeting people with student loan debt. The Misconduct: They illegally charged hundreds of dollars in…
CFPB Enforcement • File No. 2024-CFPB-0016 They Ran Out the Clock on Borrowers to Steal 16% of Their Loans EvilCorporations.com • CFPB Consent Order, December 9, 2024 • 26 min read TL;DR Who: Performant Recovery, Inc. (formerly Diversified Collection Services,…
Case File: The Climb Credit Deception The Climb Credit Deception CFPB v. Climb Credit, Inc., et al. | Case No. 1:24-cv-07868 | S.D.N.Y. TL;DR Receipts PREDATORY MODEL: Climb Credit and its parent companies posed as a “trusted intermediary” for students,…