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Student Debt Firm Exec Settles CFPB Claims With $7M Deal

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Student Debt Firm Exec Settles CFPB Claims With $7M Deal

Student Debt Firm Exec Settles CFPB Claims With $7M Deal

Law360 (July 8, 2020, 6:19 PM EDT) — An executive of a student loan debt relief company that allegedly used ill-gotten credit reports to market its services has agreed to give the Consumer Financial Protection Bureau $25,000 in a $7 million settlement agreement — the full payment of which will be suspended if he fulfills several requirements.

In a stipulated final judgment and order dated July 7, U.S. District Judge James V. Selna said that Robert Hoose, the chief operating officer of Docu Prep Center Inc., would only have to give the CFPB a fraction of the multimillion-dollar sum as part of a deal in which Hoose neither admits…

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