In a status conference on March 21, 2019, the Court of Federal Claims (COFC) set a hearing date of April 16th to address a preliminary injunction that would prevent the Department of Education (ED, FSA or The Department) from recalling all remaining accounts from four large private collection agencies (PCAs) that still hold Award Term Extensions (ATEs). The recall of these accounts would, for practical purposes, be a nail in the coffin for these firms because it would mean the loss of their Authority to Operate (ATO), which can take up to a year to get -- even if they ultimately win their case.
Read the Whole Story »