Class Counsel Announce Proposed Settlement of Wells Fargo Student Loan TCPA Litigation

TCPA Settlement Announced Against Wells Fargo

A proposed settlement has been reached in a class action lawsuit against Wells Fargo Bank, N.A. (“Wells Fargo”). The lawsuit alleges Wells Fargo violated the Telephone Consumer Protection Act (“TCPA”) by using an automatic telephone dialing system and/or an artificial or prerecorded voice to initiate calls to cell phones (“Automatic Calls”) in connection with student loans, without prior express consent. Wells Fargo denies the allegations, and the Court has not decided who is right. Instead, both sides agreed to a settlement. [Read more…]

U.S. Education Dept Proposes New Student Debt Forgiveness Rules

US Education Dept Proposes New Student Debt Forgiveness Rules

Defrauded students would have their loans forgiven; new rules would also bar mandatory arbitration clauses

In what could lead to a stunning victory for students defrauded by mercernary and predatory “for-profit” colleges, the U.S. Department of Education has released proposed rules that would forgive student loans in situations where colleges committed fraud and other misconduct. There has been a wave of lawsuits and judgments recently where so-called “fraudster colleges” are beginning to be held accountable for their improper and illegal conduct in forcing sudents into crippling student loan debt, often via deceptive manipulations, outrageous missed-class and missed-exam fees, and false promises of post-graduate employment success via wildly distorted alumni job rates. [Read more…]