Corinthian Colleges Collection Controversy

The CFPB has sued a for-profit chain of colleges, Corinthian Colleges Inc. for predatory student lending and collection schemes. Corinthian is alleged to have lured in students by misrepresenting career services and job prospects, after which the schools utilized illegal practices to collect on the incurred debt. The CFPB has provided a letter specifically to Corinthian students to provide guidance while pursuing the lawsuit. [9/17/14]