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CFPB, 11 states sue for $30 million over deceptive, abusive debt collection practices
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Consumer Protection
Friday, December 1, 2023
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The
Consumer Financial Protection Bureau (CFPB) recently cited deceptive and
abusive debt collection practices in an enforcement action against a company
which misled borrowers about repayment terms of “income share” loans used to
finance its job training program. The CFPB partnered with 11 states in a
lawsuit worth more than $30 million in redress and penalties against the
now-defunct company.
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