The CFPB is permanently banning BloomTech from consumer lending activities and its CEO, Austen Allred, from student lending for a period of ten years.
Allred founded BloomTech, which rebranded from the Lambda School in 2022 after cutting half its staff, in 2017.
(According to the CFPB, BloomTech originated “at least” 11,000 such loans.)
BloomTech didn’t market the loans as such, saying that they didn’t create debt and were “risk free,” and advertised a 71%-86% job placement rate.
And, unbeknownst to many students, BloomTech was selling a portion of its loans to investors while depriving recipients of rights they should’ve had under a federal protection known as the Holder Rule.
France’s data privacy watchdog, the CNIL, has fined Amazon’s logistics subsidiary in France €32 million, or $35 million at today’s exchange rate.
Again, it’s worth pointing out that the CNIL is listing some data processing wrongdoings.
This isn’t a labor case, it’s a data processing case about illegitimate and excessive monitoring of the warehouse workers.
“As implemented, the processing is considered to be excessively intrusive.”According to the French regulator, Amazon uses this performance data to assess the overall performance of its warehouse workers on a weekly basis.
The company’s first argument is that Amazon isn’t the only company in the logistics industry using a connected warehouse management system.
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