The Consumer Financial Protection Bureau continued its jurisdictional expansion April 17 when it issued a consent order against BloomTech Inc., which does business as Bloom Institute of Technology, a for-profit college for computer programming. According to the consent order, the school "offers training programs in areas such as web development, data science, and backend engineering that typically last six to nine months."
The bureau's continued expansion here is in two arenas: what are known as "income-share agreements" and for-profit educational institutions. The consent order marks at least the third time in which the bureau has taken action with respect to income-share agreements and continues the bureau's recent focus on for-profit educational institutions.
