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ITT Moves to Block Consumer Bureau Claim

ITT Moves to Block Consumer Bureau Claim
May 2, 2014

ITT Educational Services has filed a court motion to dismiss a complaint the Consumer Financial Protection Bureau (CFPB) lodged against the for-profit chain in February. In its first enforcement action against the sector, the CFPB accused ITT of predatory lending and other abusive practices.

However, the lawsuit filed this week by ITT claims the bureau has overstepped its statutory authority. More broadly, the for-profit claimed the CFPB's enforcement approach lacks due process and is unconstitutional.

"Defendant ITT Educational Services does not provide consumer financial products," the filing said, "and its conduct as described in the Bureau’s complaint falls outside the Bureau’s jurisdiction."

 

 

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