The U.S. Consumer Financial Protection Bureau (CFPB), the powerful independent federal agency vested with broad regulatory authority to issue rules declaring acts or practices related to consumer financial products to be unlawful because they are unfair, deceptive, or abusive, wants to hear from the public on a variety of topics related to “employer-driven debt.” The agency’s Request for Information (RFI) comes on the heels of a CFPB-sponsored event earlier this year where labor unions and other worker groups urged the CFPB to examine – and presumably regulate – training repayment agreements and similar financial products that allegedly “function as modern forms of indentured servitude.”
Members of the Center for Workplace Compliance (CWC) can read more here.