Skip to content
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Cart
  • Inside Mortgage Finance
  • MBS & ABS
  • The GSEs
  • The CFPB
  • Mortgage Trends
  • FHA/VA Lending
  • Nonconforming Markets
  • Data
    • Subscribe to Data
Home » Store » Supervision & Examination » CFPB Goes After Student Financial Aid Services Over Sales, Billing

CFPB Goes After Student Financial Aid Services Over Sales, Billing

$55.00
Supervision & Examination

Product Details

The CFPB has filed a complaint and a proposed $5.2 million consent order in federal court against Sacramento, CA-based Student Financial Aid Services for allegedly illegal sales and billing practices.The company has operated websites and related call centers where it offers fee-based assistance to consumers filling out the federal government’s Free Application for Federal Student Aid. According to the CFPB’s complaint, when consumers entered their payment information for certain financial advisory services, SFAS began to bill them for an annual subscription without their knowledge or consent. These recurring charges typically ranged from $67 to $85 each year and were renewed annually, according to the bureau. The company enrolled consumers in these annual subscriptions without adequate disclosures and imposed recurring ...
  • About
    • About Inside Mortgage Finance
    • Contact Us
    • Advertising
    • Privacy Policy/Terms
    • Article Reprints/Web Postings
    • Copyright FAQ
  • Customer Center
    • Subscribe
    • Request a Sample
    • Account Inquiries
    • Change of Address
    • Change of Delivery Method
    • Data Licensing
    • Password Reminder
    • Group Subscriptions
    • Refunds
    • Renew Your Subscription
    • E-mail Newsletters
  • Mortgage Data
    • Origination
    • Servicing and Portfolios
    • Mortgage Insurance
    • Securitization
    • Agency MBS Activity
    • Non-Agency MBS Activity
    • MBS Investor Activity
    • ABS Activity
    • Commercial MBS Activity
    • Funding Activity
    • Earnings and Financials
    • Regulatory Data
    • Mortgage Rates and Terms
    • Subscribe to Data
    • Lender Profiles
    • HMDA Dashboard
    • Contacts Directory
    • Custom Data
    • Data Licensing
  • Reports
    • Data Reports
    • Industry Studies
    • Regulatory Reports
    • Statistical Annual
    • Free Reports

© Copyright 2025 Inside Mortgage Finance Publications
Design, CMS, Hosting & Web Development :: ePublishing