Democrats seek to create oversight committee governing for-profit colleges

Three Democratic senators introduced a bill last week that would create an interagency committee to tighten oversight of for-profit colleges, including by publishing a public list of colleges that have conducted illegal activities or engaged in fraudulent practices.
The bill would also require the committee to post a report each year detailing federal enforcement actions imposed on for-profit colleges, student complaints against these institutions and information about how their executives are compensated.
The proposed legislation calls for the interagency committee to be composed of officials from the Education, Justice, Defense, Labor and Veterans Affairs departments, as well as the Consumer Financial Protection Bureau, Securities and Exchange Commission, Federal Trade Commission and Internal Revenue Service.