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Outcome of false information allegations against PHEAA by end of 2024
5
Resolution / Starting Odds
PHEAA found guilty • 33%
PHEAA found not guilty • 33%
Settlement reached • 34%
Court records or official announcements from CFPB or PHEAA
Story
CFPB Sues PHEAA for Illegal Collections on Discharged Student Loans on May 31
May 31, 2024, 04:55 PM
On May 31, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against the Pennsylvania Higher Education Assistance Agency (PHEAA), also known as American Education Services (AES), accusing the student loan servicer of illegally collecting on loans that have been discharged in bankruptcy. The lawsuit also alleges that PHEAA sent false information about consumers to credit reporting companies. This marks the second enforcement action by the CFPB against PHEAA within a month.
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Corporation found liable • 33%
Corporation found not liable • 33%
Settlement Reached • 25%
Criminal Convictions • 25%
Case Dismissed • 25%
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Lovo found guilty • 33%
Lovo found not guilty • 34%
No Action • 33%
Fines/Penalties • 33%
Operational Changes • 34%
Full bond paid • 33%
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Coinbase found non-compliant • 33%
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Charges filed against some companies • 33%
Charges filed against all investigated companies • 33%
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Formal charges filed • 34%
Charges re-instated with fines • 25%
Charges re-instated without fines • 25%
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Ongoing litigation • 25%