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Better Future Forward, Inc.; Better Future Forward Manager, LLC; Better Future Forward Opportunity ISA Fund (CP1), LLC; and Better Future Forward Opportunity ISA Fund (CH1), LLC

On September 7, 2021, the Bureau issued a consent order against Better Future Forward, Inc.; Better Future Forward Manager, LLC; Better Future Forward Opportunity ISA Fund (CP1), LLC; and Better Future Forward Opportunity ISA Fund (CH1), LLC (collectively, “BFF”), which are companies that provide students with income-share agreements (ISAs) to finance postsecondary education. The Bureau found that BFF falsely represented that its ISAs are not loans and do not create debt. This conduct was deceptive in violation of the Consumer Financial Protection Act of 2010. The Bureau also found that BFF failed to give certain required disclosures and imposed prepayment penalties on private education loans in violation of the Truth in Lending Act, Regulation Z, and the CFPA. The Bureau’s order requires BFF to cease misrepresentations, provide consumers with required disclosures, and reform contracts to eliminate prepayment penalties.

Related documents

Consent Order

Stipulation

Press release

CFPB Takes Action Against Student Lender for Misleading Borrowers about Income Share Agreements

Case docket

View case filings