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Plaintiffs allege that the university, along with university President David Fike, have “engaged in fraudulent behavior, which constitutes unlawful business practices. These actions have also resulted in breaches of fiduciary duty, breach of express and implied contract, as well as claims for promissory estoppel, false advertising, promissory fraud, and constructive fraud.”        

The CFPB report highlights three prevailing issues student loan servicers are having in the wake of borrowers resuming their payments: extended call hold times, income-driven repayment application processing delays, and inaccurate billing and disclosure statements.        

“What we’ll see is that AI gets better and better and the companies that make it and sell it get more and more sophisticated, and it’s harder and harder to say there’s collusion,” said UC Law San Francisco professor Joshua Davis.        

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“Fine print, fleeting superscripts, or other inconspicuous ‘disclosures’ don’t really ‘disclose’ anything.” FTC senior attorney Lesley Fair wrote on the agency’s blog.