Company Information

Get to know American Financial Benefits Center

American Financial Benefits Center (AFBC) was a private company based in Sacramento, California, that marketed itself as a third-party processor for federal student loan programs. The company's business model focused on assisting student loan borrowers with identifying and applying for programs offered by the U.S. Department of Education, such as income-driven repayment plans and loan forgiveness. However, in 2018, the Consumer Financial Protection Bureau (CFPB) took enforcement action against AFBC, finding that the company illegally charged consumers upfront fees for these services and deceptively misrepresented its affiliation with the government. The company was subsequently ordered to cease operations.

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American Financial Benefits Center

United States

Founded in

2011 (15 Years)

Founded

Last online: No recent activity

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.