CFPB v. Prehired, LLC

Prehired, LLC, Prehired Recruiting, LLC, and Prehired Accelerator, LLC allegedly deceptively represented that its income share loans were not loans; deceptively represented that consumers would pay nothing until they had a job making at least $60,000 a year; and failed to disclose key financing terms required by the Truth in Lending Act (TILA) and Regulation Z. Prehired Recruiting allegedly engaged in unfair acts and practices by filing debt collection lawsuits in a distant forum. Prehired Recruiting and Prehired Accelerator allegedly violated the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Act of 2010 (CFPA) by deceptively inducing consumers to enter into settlement agreements, and the FDCPA by claiming the consumers owed more than they did, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release