Violation Tracker Individual Record

Company: 
Student Aid Institute, Inc.
Penalty: 
$50,000
Year: 
2016
Date: 
March 30, 2016
Primary Offense: 
consumer protection violation
Secondary Offense: 
student loan abuses
Violation Description: 

The Consumer Financial Protection Bureau took action to halt a student loan debt relief scam that the agency said illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.