The Consumer Financial Protection Bureau (CFPB) has expanded its investigation of for-profit institutions with a broad inquiry received last week by ITT Educational Services Inc., according to a corporate filing. Corinthian Colleges Inc. is responding to a similar probe. The new federal watchdog group has been tight-lipped about the investigation, but its director has spoken out in the past about colleges with institutional loan programs that have had high default rates. And both ITT and Corinthian have been criticized by consumer advocates for their lending practices.
- Consumer Financial Protection Bureau sues ITT, alleges predatory loan scheme
- CFPB is investigating Corinthian Colleges, possibly focusing on student lending
- ITT's federal compliance scramble differs from Corinthian's shut down
- SEC charges ITT with fraud over student loan programs
- Federal regulators accuse Corinthian Colleges of predatory lending scheme, strong-arm debt collection tactics
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