The New Jersey Attorney General (NJAG) and the Federal Trade Commission (FTC) recently announced settlements in concurrent actions against Sollers College, a for-profit college, its parent company, Sollers, Inc., and, in the...more
10/30/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
For Profit Colleges ,
FTC Act ,
Income Share Agreements ,
Job Offers ,
Misrepresentation ,
Settlement ,
Students
The D.C. Circuit will hear oral argument on February 2, 2017 on the CFPB’s appeal from the D.C. federal district court’s April 2016 ruling that the CFPB exceeded its statutory authority when it issued a CID to the Accrediting...more
12/16/2016
/ Accreditation ,
Appeals ,
CID ,
Colleges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Financial Aid ,
Financial Institutions ,
For Profit Colleges ,
For Profit Education ,
Statutory Authority
The CFPB announced that it has entered into a consent order with Bridgepoint Education, Inc., the owner of two for-profit colleges, to settle charges that the company’s representatives engaged in deceptive acts or practices...more
9/13/2016
/ Civil Monetary Penalty ,
Colleges ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Educational Institutions ,
For Profit Colleges ,
For Profit Education ,
Student Loans ,
Students ,
Unfair or Deceptive Trade Practices
The D.C. federal district court has ruled that the CFPB exceeded its statutory authority when it issued a CID to the Accrediting Council for Independent Colleges and Schools (ACICS) in August 2015....more
On October 29, 2015, the CFPB filed a petition in D.C. federal court to enforce the CID it issued on August 25, 2015 to the Accrediting Council for Independent Colleges and Schools (ACICS). ACICS’ petition to modify or set...more
The CFPB announced that it has entered into a “Joint Higher Education Memorandum of Understanding” with the Departments of Veterans Affairs (VA), Defense (DOD), and Education (ED) as part of a joint effort by the agencies “to...more