ITT Reaches $60 Million Settlement With Consumer Agency
ITT Education Services Inc., which owned and operated the defunct for-profit ITT Tech college chain, reached a $60 million legal settlement Monday with the Consumer Financial Protection Bureau.
In the lawsuit, CFPB alleged that ITT improperly steered students to take out private loans through the college that they did not understand and could not afford. According to the settlement, CFPB will not seek to collect the $60 million judgment, as there are limited funds available at the company after… (continue reading)