Loan

Lawsuit Claims Biden Administration Covertly Instructed Loan Servicers to Forgive Student Debts

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Washington, D.C. — In a recent legal development, a lawsuit has been filed alleging that the Biden administration covertly instructed loan servicing companies to forgive student loans. This covert action, as claimed, diverges from usual governmental procedures and has sparked debate on transparency and the limits of executive power. The legal challenge, initiated by several taxpayer groups, argues that such significant financial decisions should not be made without public knowledge and consent. According to the lawsuit, the administration’s quiet directive to cancel millions of dollars in student debt was neither publicly announced nor subjected to … Read more

Michigan Golf Club to Pay $440,000 in Settlement Over COVID-19 Loan Program Misuse

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Richland, MI – A prominent golf club in southwestern Michigan has settled a legal dispute, agreeing to pay $440,000 after it was accused of improperly accessing a governmental loan designed to aid businesses during the COVID-19 pandemic, according to federal authorities announced on Monday. At the heart of the controversy, Gull Lake Country Club, situated near Richland in Kalamazoo County, found itself in hot water for taking a Paycheck Protection Program loan despite being ineligible. This issue came to light following allegations brought forward in a whistleblower lawsuit, where the federal government later intervened. The … Read more

States File Lawsuit to Block Biden’s Student-Loan Repayment Plan, Citing Constitutional Concerns and Revenue Loss for Loan Servicer

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Jefferson City, Missouri – Missouri’s Attorney General, Andrew Bailey, has led six other GOP states in filing a lawsuit to block President Joe Biden’s new student-loan repayment plan. The lawsuit argues that the SAVE income-driven repayment plan, established in July 2023, is unconstitutional and defies a Supreme Court decision that previously blocked Biden’s attempt at broad debt relief. This is the second lawsuit filed so far to block the student-loan repayment plan. The lawsuit specifically takes issue with the early implementation of a provision of the SAVE plan by the Education Department in February. The … Read more

Counsel Financial Strengthens Litigation Finance and Loan Servicing Capabilities with New Managing Director, Nicholas D’Aquilla

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Albany, New York – Counsel Financial, a leading provider of litigation finance and loan servicing solutions, has announced the appointment of Nicholas D’Aquilla as the new Managing Director. This strategic move aims to strengthen the company’s capabilities in the mass tort industry. D’Aquilla, with over a decade of experience in the field and a background as a civil defense litigator for the Louisiana Department of Justice, brings a wealth of knowledge and a track record of success to the Counsel Financial leadership team. D’Aquilla has established himself as a prominent figure in administering complex settlements, … Read more