CFPB Launches Probe of Worker Debts for Job Training, Equipment

The Consumer Financial Protection Bureau wants to know if employers are saddling workers with costly debts for job training or equipment purchases.

The CFPB issued a public information request on Thursday seeking input on practices and financial products that could cause an employee to owe a debt to their employer. The CFPB highlighted training repayment agreements, where employees are forced to repay the costs of job training if they leave a job within a set time period.

The consumer finance watchdog also wants information on debts owed to employers or third parties for the purchase of job equipment and supplies. ...