Compliance & Regulatory

Career College Central Summary:

  • Corinthian Colleges is being sued by the federal Consumer Financial Protection Bureau for what it calls a "predatory lending scheme."
  • The CFPB is seeking more than $500 million for borrowers who used the for-profit education company's private student loans.
  • Corinthian misled students about their job prospects, in some cases paying employers to offer temporary jobs to graduates, the agency said Tuesday....

Career College Central Summary:

  • HBO host Bill Maher is targeting U.S. Rep. John Kline as the Republican lawmaker he wants to oust from Congress in his "Flip a District" challenge.
  • The comedian and political satirist announced the "winning loser” during a live broadcast of HBO's "Real Time with Bill Maher" in Washington, D.C., on Friday. “John Kline doesn’t say kooky things, but he votes just like the people who do,...

Career College Central Summary:

  • Education Secretary Arne Duncan acknowledges that the “majority of career colleges play a vital role in training our workforce to be globally competitive.”
  • Yet he insists that students must be protected from debt he says is foisted on them by a relative handful of bad actors.
  • Rather than hold those select institutions accountable through existing laws, since 2010 Duncan has been attempting to use his...

Career College Central Summary:

  • Last week Corinthian sold a set of student loans for approximately $19 million to an unnamed third party.
  • The very next day, the company met with attorneys for the Consumer Financial Protection Bureau.
  • Now the CFPB has accused Corinthian of violating both the Dodd-Frank Act and the Fair Debt Collections Practices Act, the company said in the filing.
  • The agency is willing to enter settlement talks, according...

Career College Central Summary:

  • A Missouri appeals court ruled Tuesday in favor of a Lee’s Summit woman who successfully sued a for-profit college, arguing that the school had deceived her about the value of her education.
  • Vatterott College had appealed the Jackson County Circuit Court jury verdict, which awarded Jennifer Kerr $27,676 in actual damages and $13 million in punitive damages.
  • A judge later trimmed that $13 million to about $2 million...