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Student lenders face UDAAP enforcements
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Case Law, Consumer Protection
Friday, July 31, 2015
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Two student lenders have received enforcement actions for violations under the Dodd-Frank Act’s prohibition against unfair, deceptive or abusive acts or practices. The Consumer Financial Protection Bureau has issued monetary penalties ranging from $16 million to $1. Yes, $1. Read on to find out what the bureau regarded to be unfair and deceptive.
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