Information and Alerts

Government Actions 1

Department of Finanical Protection and Innovation v. Docupros

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On November 1, 2022, Docupros entered into a Settlement Agreement with the California Department of Financial Protection and Innovation. The agreement settles allegations that the business marketed student loan forgiveness and student loan modification services to student loan borrowers, represented that it provides “document preparation” and processing services through, or in affiliation with, the United States Department of Education, and collected advanced fees totaling $206,750.31 from 265 California consumers. Under terms of the agreement, the business agreed to desist and refrain from engaging in the business of servicing a student loan without first obtaining a license, desist and refrain from engaging in unlawful and deceptive acts and practices with respect to consumer financial, products or services, refund or credit all fees, payments, and moneys collected from California consumers, and pay a penalty amount of $40,000.00.

This action is final. 

Government Actions 2

The State of Minnesota v Docupros

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On October 9, 2023, Docupros entered into an Assurance of Discontinuance with the State of Minnesota. The Assurance of Discontinuance settles allegations that the business misrepresented its services or created confusion or misunderstanding regarding the services and marketed, sold, provided goods or services, offered to provide advice, offered to act, or acted as an intermediary between Minnesota consumers and the U.S. Department of Education, or its federal student loan servicers, related to the repayment of student loans without first being registered with the Minnesota Department of Commerce, as required by Minnesota state law with the primary purpose of reducing or eliminating student loan debt. The Assurance of Discontinuance further alleges the business imposed charges or received payment for debt settlement services without first executing written debt settlement service agreements that complied with state law and without performing all of the services the business agreed to perform. Under terms of the Assurance, the business agreed to discontinue business, directly, indirectly, individually, or in conjunction with an person or entity in the state of Minnesota, including but not limited to collecting payments, marketing, selling, and providing goods or services related to the repayment of student loans, including but not limited to completion of application materials for student loan consolidation or repayment plans. Under the terms of the Assurance the business shall pay a settlement sum in the amount of $17,824.68 and a civil penalty in the amount of $50,000. 

This action is final.