CFPB Gets $15M Judgment In Student Financial Aid Fraud Suit

Law360 (January 26, 2021, 4:45 PM EST) -- A California federal judge on Monday largely upheld the Consumer Financial Protection Bureau's claims that a now-defunct financial aid services company and its founder bilked students and their families out of more than $4 million, ordering that amount be repaid as restitution along with a $10 million fine.

In a 38-page order, U.S. District Gonzalo P. Curiel mostly sided with the CFPB on its bids for default and partial summary judgment against the California-registered Global Financial Support Inc. and its founder-CEO Armand Aria, respectively, who were sued by the agency in 2015 over allegations that they were behind a nationwide financial...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!