CFPB Making Tech ‘Boot Camp’ Payments Following State Pressure

The Consumer Financial Protection Bureau is distributing $4.2 million in restitution payments owed to victims of bankrupt tech “boot camp” Prehired LLC following pressure from a bipartisan group of state attorneys general.

The consumer finance watchdog has now started making the payments after months of unexplained delays, the California Department of Financial Protection and Innovation said in a Wednesday statement.

The CFPB under former Director Rohit Chopra began the process of identifying people who were eligible for repayments and preparing to send them out following a November 2023 settlement with Prehired, which stood accused of misleading students about their job ...