FTC Action Leads to Permanent Ban for Scammers Who Charged Students Seeking Debt Relief with Junk Fees

Summary

The Federal Trade Commission (FTC) has banned a group of student loan debt relief scammers from the industry and requires them to turn over their assets as part of a settlement. The scammers, Express Enrollment LLC, Intercontinental Solutions LLC, and their operators, falsely claimed to be affiliated with the U.S. Department of Education and collected approximately $8.8 million in junk fees for non-existent student loan debt relief services. The FTC charged that the scheme's operators collected consumers' financial information and illegally obtained bank account, debit card, or credit card information. The proposed stipulated orders impose a monetary judgment of $7.4 million, ban the defendants from the debt relief industry, and prohibit making false representations about financial products or services.