CFPB and 11 States Order Prehired to Provide Students More than $30 Million in Relief for Illegal Student Lending Practices
November 20, 2023
November 20, 2023
WASHINGTON, Nov. 20 -- The Consumer Financial Protection Bureau issued the following news release:
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) and 11 states announced today that Prehired will provide more than $30 million in relief to student borrowers for making false promises of job placement, trapping students with "income share" loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay. The CFPB . . .
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) and 11 states announced today that Prehired will provide more than $30 million in relief to student borrowers for making false promises of job placement, trapping students with "income share" loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay. The CFPB . . .