The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency alsosays the companies falsely claimed to be or be affiliated with the Department of Education and told students that the illegal payments the companies collected would count towards their loans.
Unrestrained by ethics or law, cybercriminals are racing to use AI to find innovative new hacks, says Recorded Future CEO Christopher Ahlberg.
The U.S. Small Business Administration has long been concerned about small businesses from underserved markets struggling to obtain SBA loans. On May 11 and 12, the SBA is expected to enact a series of changes to the SBA programs that will expand which lenders can get licensed for SBA programs,
(Reuters) -The U.S. Federal Deposit Insurance Corporation is planning to exempt smaller lenders from kicking in extra money to replenish the government's bedrock deposit insurance fund, and instead saddle the biggest banks with much of the bill, Bloomberg News reported on Thursday, citing people familiar with the matter.
This month, 6,523 people who were misled by Burlington Financial Group with false promises that it would eliminate their credit-card debts and improve their credit scores will receive a check in the mail. Burlington Financial Group was a Maryland-based debt-relief and credit-repair company that marketed and sold debt-relief and credit-repair services to people nationwide from January 2016 until at least September 2019 and collected fees from them until at least August 2020.
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