HUFFINGTON POST: Jeb Bush Campaign Adviser Serves on Board of Predatory College ITT

Career College Central Summary:

  • Former Congressman Vin Weber (R-MN) is an advisor to the unofficial presidential campaign of Jeb Bush, as both Weber and the Bush camp have confirmed. Weber recently told Fox News, "I think that Governor Bush is right on track in terms of how he's been thinking about this potential race and when he needs to get into it and what needs to happen."
  • But Weber is much more than a Bush campaign advisor. He's a lobbyist who has pressed his former colleagues in Congress on behalf of clients like AT&T, the pharmaceutical trade association PHRMA, student loan giant Sallie Mae, and student debt collection companies Navient and ECMC.
  • Weber has also served, since 1994, on the board of directors of ITT Educational Services, one of the biggest for-profit college companies. Today the Securities and Exchange Commission sued ITT, its former CEO, and former CFO, charging that the company "made various false and misleading statements and omissions to defraud ITT's investors by concealing the extraordinary failure" of its student loan programs.
  • The Consumer Financial Protection Bureau also has sued ITT, charging in a 2014 complaint that "ITT subjected consumers to undue influence or coerced them into taking out ITT Private Loans through a variety of unfair acts and practices designed to interfere with the consumers' ability to make informed, uncoerced choices." The attorney general of New Mexico has sued ITT for alleged "unfair, deceptive, and unconscionable acts and practices … in connection with the advertising, marketing, and selling of educational services." 12 more state attorneys general — from Arkansas, Arizona, Connecticut, Idaho, Iowa, Kentucky, Missouri, Nebraska, North Carolina, Oregon, Pennsylvania and Washington — are jointly investigating ITT.
  • ITT denies it has done anything wrong and is contesting the charges.

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HUFFINGTON POST

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