Pennsylvania Higher Education Assistance Agency, and National Collegiate Student Loan Trusts

2024 Community Banks / Credit Unions

CFPB Fiduciary Breach

Penalty

$5 million

Outcome

Pennsylvania Higher Education Assistance Agency, and National Collegiate Student Loan Trusts was subject to a $5,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

Pennsylvania Higher Education Assistance Agency, and National Collegiate Student Loan Trusts — $5,000,000 CFPB Enforcement

Outcome: Pennsylvania Higher Education Assistance Agency, and National Collegiate Student Loan Trusts was subject to a $5,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Action Type: enforcement-action

How Crucible Prevents This

Crucible's continuous compliance monitoring would have flagged the regulatory gaps that led to this CFPB enforcement action — through automated regulatory adherence checks, BSA/AML monitoring, consumer protection compliance tracking, and corrective action plan enforcement — preventing the violations before they triggered federal action.

Source: CFPB Enforcement Actions — Pennsylvania Higher Education Assistance Agency, and National Collegiate Student Loan Trusts

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