Product: Student loan

Wells Fargo illegally sold its private student loan portfolio to XXXX XXXX in XXXX, while the parent company of the XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX closed their doors in XXXX due to fraud from school misconduct. Wells Fargo was fully well aware that the loans were fraudulent prior to their sale. Wells Fargo illegally transferred student loans to XXXX XXXX, who willfully obtained them with full knowledge of loans being fraudulent and in violation FTC, federal and state laws. 

While Wells Fargo attempting to de-risk itself from private student loans due to negligence and fraud, it instead placed the onus on consumers to seek recourse to no avail. Wells Fargo violated the law. 
Now XXXX XXXX XXXX XXXX is attempting to collect on an illegally obtained loan, in violation of FTC Rule 16 CFR Part 433 ( " FTC Holder Rule '' ). 

The transfer of loan servicing from Wells Fargo to XXXX XXXX XXXX means that while the ownership and servicing of loans changed, the terms and conditions of the The current servicer ( XXXX XXXX ) is linked to the loan as it was transferred from the original lender Wells Fargo to XXXX XXXX XXXX ( a division of XXXX ). oans remained the same. Due to school misconduct, XXXX XXXX XXXX and XXXX XXXX ( the XXXX are indistinguishable ) are legally liable for continuing to enforce a fraudulent loan, failing to provide loan discharge options, and attempting to collect payments even though the loan was purchased knowing that it was illegally obtained by Wells Fargo due to school misconduct.The original contract was through Wachovia/Wells Fargo . The school engaged in fraudulent or deceptive practices that directly influenced the decision to take out the loan. The current servicer ( XXXX XXXX ) is linked to the loan as it was transferred from the original lender Wells Fargo to XXXX XXXX XXXX ( a division of XXXX ). The transfer of loan servicing from Wells Fargo to XXXX XXXX XXXX means that while the ownership and servicing of loans changed, the terms and conditions of the loans remained the same. Due to school misconduct, XXXX XXXX XXXX and XXXX XXXX ( the two are indistinguishable ) are legally liable for continuing to enforce a fraudulent loan, failing to provide loan discharge options, and attempting to collect payments even though the loan was purchased knowing that it was illegally obtained by Wells Fargo due to school misconduct. 

Since the loan was fraudulently obtained, per multiple state AG and Federal investigations, the loan is in violation of the FTC " Holder Rule '' and has been in valuation since acquiring said loans, unbeknownst to the loan holders. It would also seem ( found per AG investigations ) that the school colluded with a number of lenders such as XXXX XXXX and XXXX ( including others that were not disclosed ). 

The violation is in respect to the fraudulent loan being obtained by XXXX XXXX. The loan was fraudulent prior to transfer from Wells Fargo to XXXX XXXX and due to FTC Rule at 16 CFR Part 433, the note is illegal and has been since prior to purchase. XXXX XXXX knowingly purchased fraudulent student loans for Wells Fargo, while ensuring XXXX XXXX XXXX XXXX parent company ) was safe from risk of losing government funding ( thereby, creating XXXX XXXX and via a Trust ). This was intentionally done to violate the law, decimate consumer resources, and most importantly to hide from committing shareholder fraud. XXXX is a publicly traded company and receives federal funding, therefore it created XXXX XXXX to de-risk from funding loss due to consumer & shareholder fraud ). 

Per the LAW and FTC Rule at 16 CFR Part 433 the NOTE IS FRAUDULENT. Based on the closure of the XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX school misconduct 'XXXX XXXX XXXX XXXX ( it's loss of accreditation and collapse of parent company ), XXXX XXXX XXXX XXXX are in violation of FTC " Holder Rule ''. The loan is invalid.