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College scholarship scam

SAN FRANCISCO — The Ninth Circuit upheld a judgment in favor of the Consumer Financial Protection Bureau on its civil enforcement action alleging that the defendant, Armond Aria, mailed deceptive solicitations to college students advertising a targeted program for assisting them in scholarship applications. Because he was “providing financial advisory services to consumers on individual financial matters or relating to proprietary financial products or services,” the bureau may prosecute him.

Read the ruling here.

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