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For Profit Colleges Enforcement Actions

Troutman Pepper

California AG Bonta Upholds $21M Penalty Against Ashford University Over GI Bill Errors

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In a recent ruling, the California Court of Appeal largely affirmed a lower court’s decision from March 2022, finding that Ashford University (now known as University of Arizona Global Campus), an online, for-profit college,...more

Goodwin

Pennsylvania AG Settles with Student Loan Debt Buyer for $2.6 Million

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On April 6, 2021, the Pennsylvania Attorney General (Pennsylvania AG) announced that it reached an agreement with a Texas-based debt buyer concerning a portfolio of student loan debt it purchased from a now-defunct for-profit...more

Goodwin

FTC Announces $30 Million Settlement with Operator of For-Profit Post-Secondary Schools

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On August 27, 2019, the Federal Trade Commission (FTC) announced it had reached a $30 million settlement with an Illinois-based operator of for-profit post-secondary schools and related subsidiaries resolving allegations that...more

Troutman Pepper

D.C. Circuit Rebukes CFPB in Civil Investigative Demand Enforcement Decision

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On April 21, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion in CFPB v. Accrediting Council for Independent Colleges & Schools, affirming a decision by the D.C. district court to deny...more

Goodwin

Financial Services Weekly News - April 2016 #4

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Regulatory Developments - Federal Banking Regulators Propose Net Stable Funding (Liquidity) Ratio - The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation...more

Dorsey & Whitney LLP

“Abusive” Development – Recent Applications of the Prohibition against Abusive Acts and Practices

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The enactment of the Dodd-Frank Act in 2010 created the Consumer Financial Protection Bureau (“CFPB”) and, among other things, vested it with broad authority to enforce prohibitions on unfair, deceptive and abusive acts and...more

McGuireWoods LLP

CFPB Pursues Recovery Against For-Profit College Corinthian and Relief for Its Students

McGuireWoods LLP on

Corinthian Colleges (Corinthian) announced on April 26 that it would cease operations at its remaining physical campuses. This announcement refers to the 30 or so physical campuses that Corinthian continued to operate...more

Nexsen Pruet, PLLC

The Consumer Financial Protection Bureau's case against Corinthian Colleges - Blog: Consumer Financial Protection Bureau

Nexsen Pruet, PLLC on

My most recent blog entries have been focused on the CFPB’s new mortgage servicing rules and the Flagstar Bank enforcement case. I’m going to switch gears for a moment and take a look at the Corinthian Colleges case. ...more

Ballard Spahr LLP

Update on state AGs/regulator lawsuits using Dodd-Frank authority

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Below is an update on the lawsuits we have been following that state attorneys general and a state regulator have brought using their Dodd-Frank enforcement authority. Under Dodd-Frank Section 1042, a state AG or regulator is...more

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