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Prehired ordered by US CFPB, 11 states to shut down permanently, pay $30 million over illegal student lending practices

( November 20, 2023, 19:18 GMT | Official Statement) -- MLex Summary: US sales company Prehired was ordered by the US Consumer Financial Protection Bureau to shut down permanently and to pay $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 partnered with 11 state partners to bring the enforcement action against Prehired and two affiliated companies.Statement follows below:...

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