CFPB Imposes Ban from Consumer Lending Activities and $164,000 Penalty on For-Profit Vocational School and Its Founder for Hiding Loan Costs from Students
By EsqSocial Corporation 19/04/24
The CFPB entered into a consent order with a for-profit vocational school that offered coding programs using income-share agreements ("ISAs") as tuition financing options. Unlike conventional student loans, ISAs are products under which students defer their tuition payments by agreeing to pay the lender a predetermined share of their future income....
By: Hudson Cook, LLP