This issue brief, from the SPBC and the Center for Consumer Law & Economic Justice at the University of California, Berkeley, School of Law, provides an overview of how California’s Department of Financial Protection and Innovation (DFPI) and the California legislature can protect borrowers from predatory income share agreements.
Written in response to a request for comment from the DFPI, the memo identifies and describes the risks that these financing arrangements pose to students who use them, and shows how policymakers can utilize the expansive authorities already at their disposal to install robust consumer protections and further hold bad actors accountable in this rapidly growing market.
Read the memo: Income Share Agreements and the DFPI
Read more about the SBPC’s work related to income share agreements here.