ITT Educational Gets Wells Notice From SEC On Student Loans
Career College Central Summary:
ITT Educational Services Inc., an operator of for-profit colleges, said it received a notice that the U.S. Securities & Exchange Commission may take enforcement action related to its loans to students.
Scrutiny of ITT Educational’s loan programs increased after accounting and disclosure issues were raised by an SEC review that began last year.
The company is in discussions with the SEC and working to head off an enforcement decision by the agency, said Nicole Elam, an ITT spokeswoman.
“We worked with multiple leading independent experts in the field before making these accounting and disclosure decisions,” she said in a telephone interview.
“We acted in good faith in making decisions on complicated issues.”
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