New York City's comptroller, John C. Liu, and the city's pension funds this week announced that they have filed shareholder proposals calling on DeVry University and Career Education Corp. to disclose data on student borrowing that is roughly the equivalent of what would have been required under the now-stalled federal "gainful employment" regulations. The funds are investors in both for-profit institutions, and can therefore introduce requests that are considered by shareholders. Career Education had sought to bar a vote on the proposal, according to Liu's office, but the U.S. Securities and Exchange Commission ruled against the company.
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