U.S. Regulator Settles Lawsuit Against ITT Educational

The U.S. Consumer Financial Protection Bureau (CFPB) has reached a settlement with ITT Educational Services for predatory lending practices.  In 2014, the CFPB sued ITT alleging predatory lending practices, pushing student borrowers into high-cost private loans that they did not understand nor could afford. The CFPB does not plan to collect on any of the $60 million judgement from the bankrupt for-profit college.

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