CFPB Filing in Accreditation Lawsuit

The Consumer Financial Protection Bureau has asked an appeals court to throw out a lower court's ruling that the federal agency lacks the authority to investigate accreditors' oversight of for-profit colleges, Politico reported. The bureau said in an opening brief that it has "ample authority" to pursue accreditors that could be violating federal consumer protection laws. CFPB's lawsuit is against the Accrediting Council for Independent Colleges and Schools, a controversial national accreditor that is facing an existential threat over its approval of Corinthian Colleges and ITT Technical Institutes.