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Bureau says for-profit college violated CFPA, FDCPA
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Consumer Protection
Monday, September 22, 2014
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The Consumer Financial Protection Bureau sued California-based Corinthian Colleges Inc., claiming the operator of for-profit schools lured thousands of economically disadvantaged students into taking out private loans. The bureau also said the company used illegal tactics when students had trouble repaying their debts. Specifically, the bureau alleged violations of Dodd-Frank’s ban on unfair and deceptive acts or practices, as well as violations of the Fair Debt Collection Practices Act. Read on for an in-depth look at the CFPB’s action.
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