Consumer risks posed by employer-driven debt
After hearing from a number of consumer and worker organizations concerned about the potential impacts of employer-driven debts, the CFPB launched a formal inquiry in June 2022 seeking data about, and worker experiences with, employer-driven debt. The CFPB sought comments from employers, researchers, and workers or other individuals with knowledge or personal experiences pertaining to employer-driven debt to better understand risks to consumers.
This issue spotlight showcases the findings from that inquiry. It presents highlights derived from workers’ individual experiences and examines what market-level research says about employer-driven debts.