ITT Educational Gets Wells Notice From SEC On Student Loans
Career College Central Summary:
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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.
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Scrutiny of ITT Educational’s loan programs increased after accounting and disclosure issues were raised by an SEC review that began last year.
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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.
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“We worked with multiple leading independent experts in the field before making these accounting and disclosure decisions,” she said in a telephone interview.
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“We acted in good faith in making decisions on complicated issues.”
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