The CFPB and State AGs Act Jointly Against Online Educational Company

In this episode of his "Clearly Conspicuous" podcast series, "The CFPB and State AGs Act Jointly Against Online Educational Company," consumer protection attorney Anthony DiResta discusses a joint enforcement action taken by the Consumer Financial Protection Bureau (CFPB) and 11 state attorneys general against Prehired. Prehired was an online training programs for software sales positions. The CFPB accused the company of making false promises to borrowers, trapping students with illegal income share loans and engaging in abusive debt collection practices. The court-approved order requires Prehired to cease operations and void all outstanding loans, providing more than $30 in relief for student borrowers. Mr. DiResta explains how these actions highlight the significant consequences of joint federal and state enforcement actions in consumer protection.