The Consumer Financial Protection Bureau (Bureau) today filed a proposed stipulated judgment against PEAKS Trust 2009-1, along with Deutsche Bank National Trust Company, Deutsche Bank Trust Company Delaware, and Deutsche Bank Trust Company Americas, in their capacity as trustees to PEAKS Trust 2009-1 (collectively, “PEAKS”). In its complaint, filed in the District Court for the … Read more
The Department of Education under Betsy DeVos and the Trump administration is seemingly doing everything it can to eliminate consumer protections from schools of higher education that cause consumers to take out loans to attend. Secretary DeVos has been pushing for rollbacks on the Borrower Defense to Repayment program that gave students a way to … Read more
The Indiana Lawyer has a fantastic article about the unintended consequences that the bankruptcy filling of ITT Educational Services. “Among the fallout from the ITT Educational Services bankruptcy are the multiple pallets being offloaded every weekday into a chilly warehouse south of downtown Indianapolis. Each of the wooden pallets is stacked with 40 Bankers Boxes … Read more
The U.S. Department of Education is hosting live webinars regarding ITT Tech school closure. On this page you will find information related to the recent oversight and compliance actions imposed against ITT Educational Services and the subsequent closure of ITT Technical Institutes. Featured below is information on how former ITT students can continue their education, … Read more
The Department of Education has been pressuring ITT Technical over issues that impacted the schools ability to be eligible for federal student loans. In response, ITT has shut their doors to new students and left current students in a lurch. While ITT Technical says “Endless Possibilities” as of today, one of those possibilities is not … Read more
The CFPB announced yesterday they filed suit against ITT Educational Services, the owner of a number of for-profit colleges. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against ITT Educational Services, Inc., accusing the for-profit college chain of predatory student lending. The CFPB alleges that ITT exploited its students and pushed them into high-cost … Read more