CFPB Charges Performance SLC and Performance Settlement, Daniel Crenshaw, with Using Deceptive Tactics

MUSINGS BY DIANE:

student loanYet another student loan “workout” company has been charged with receiving illegal fees and engaging in deceptive acts and practices.  In this case approximately $9.2 million in illegal upfront fees.  I feel bad for the law enforcement agencies seeing this same outrageous and fraudulent actions again and again.  But I really get upset at the pain and suffering these horrible people are suffering on the innocent borrower who is trying to workout payments on their student loans.  I know too well how how this causes unnecessary stress – resulting in difficulty at work and home, physical illness and a general distrust of the entire student loan system.

– Diane L. Drain
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