CFPB to distribute more than $3.5 million to consumers that were charged illegal fees pertaining to federal student loans

This month, more than 7,100 people who were charged illegal advance fees by Timemark, Inc. to renegotiate, settle, reduce, or alter the terms of their federal student loans will receive a check in the mail. This resolution dates back to July 2020 when the Consumer Financial Protection Bureau settled with Timemark, Inc. for violating the Telemarketing Sales Rule. For more details and information please visit the CFPB website here.