Student Borrowers Claim Victory in Consumer Bureau Action

Income Share Agreements Pose Serious Risks to Students

Today, the Consumer Financial Protection Bureau announced an enforcement action against a private student lender offering a risky kind of financial product known as an income share agreement (ISA), alleging that the company, Better Future Forward, Inc. was misleading consumers. This action marks the first public federal enforcement action against an Income Share Agreement provider and sets the stage for increased regulatory scrutiny of the ISA industry. Earlier this month, the…