CFPB Gives Student Debt Relief Firm Consumer Redress Forgiveness

The owners of a Florida student debt relief firm agreed to return $3.8 million to consumers in a settlement with the Consumer Financial Protection Bureau, but have 10 days to reduce that payout to $22,003

Timemark Inc. and its owners and officers Timothy Lenihan, Sr., Mark Nagler and Casey Gassaway engaged in a nearly three-year scam that charged consumers $699 for paperwork to reduce their student loan payments through consolidation, forgiveness or income-driven repayment plans, according to CFPB complaint and proposed settlement filed Wednesday in the U.S. District Court for the Southern District of Florida.

The U.S. Department of Education ...