Investigations of the student-loan industry have been taken up in recent months by New York, Illinois, and other states; by Congress; and by the U.S. Department of Education. But one important constituency of consumer scandals has been strangely absent: class-action lawyers.
No longer. Fauth Law Offices, in Oakland, Calif., is also “investigating these questionable student-loan practices,” says a posting on the firm’s Web site, which has an easy-to-remember address for litigious users. It’s http://classlitigation.com/. Fauth is encouraging any people who have taken out student loans at their college or university’s recommendation to contact the law office.
The firm says it specializes in “financial fraud, toxic exposures, securities fraud, employment discrimination, personal injury, consumer protection, and products liability.” Fauth says it may now add student loans to the mix.
“Six universities and three financial institutions have already reached settlements providing over $10-million,” the firm says. “However, that is thought to be the tip of the iceberg.” —Josh Keller





