U.S. and Calif. Agencies Put New Restrictions on Corinthian Colleges
Career College Central Summary:
Corinthian Colleges Inc., the troubled for-profit higher-education company that is gradually closing its doors under an agreement with the U.S. Education Department, is facing new challenges on two fronts, both made public on Monday.
First, the company said in a regulatory filing that the U.S. Consumer Financial Protection Bureau has accused Corinthian of violating the Dodd-Frank Act and the Fair Debt Collections Practices Act.
The agency told the company it would be open to a settlement if Corinthian agreed to a list of conditions, including informing students nationwide of the potential sale of their campuses, as it has done in California.
The bureau has given the company until Friday to respond to the conditions. Second, California’s Department of Veterans Affairs took steps on Monday that preclude the company’s campuses in that state from receiving federal GI Bill benefits.
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THE CHRONICLE OF HIGHER EDUCATION