Corinthian Colleges Gets Warning From U.S. Consumer Watchdog

January 6, 2014
student loan news

The U.S. Consumer Financial Protection Bureau (CFPB) is weighing legal action against Corinthian Colleges Inc. related to student loans. The CFPB's enforcement office sent Corinthian a letter last month to warn of the possible action, the company disclosed in a filing with the U.S. Securities and Exchange Commission. The watchdog previously had notified Corinthian that it was looking into education companies that may have participated in illegal actions related to the marketing or origination of private student loans. Consumer advocates claim that for-profit colleges burden low-income students with expensive loans but often fail to help those students find jobs after graduating.

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