New York's financial regulator is examining whether companies that offer student-loan debt relief are charging improper fees and engaging in misleading advertising
New York’s financial regulator said Thursday it has launched an investigation into companies that offer debt-relief services for student loan borrowers, examining whether they are charging improper fees and engaging in misleading advertising.
The state Department of Financial Services has issued subpoenas to eight companies that promise to find debt reduction or forgiveness for struggling borrowers. The agency said the probe focuses on whether the companies charge “hefty, improper fees structured as monthly subscriptions”...
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