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Violation Tracker Individual Record

Company: Corinthian Colleges, Inc.
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Penalty: $531,224,267
Year: 2015
Date: October 28, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: student loan abuses
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: At the request of the Consumer Financial Protection Bureau, a federal court entered a final default judgment against Corinthian Colleges, Inc., resolving a lawsuit filed by the CFPB in September 2014. The Bureau's lawsuit against Corinthian alleged that the company lured tens of thousands of students into taking out private loans to cover expensive tuition costs by advertising bogus job prospects and career services. The court ordered that Corinthian was liable for more than $530 million and prohibited the company from engaging in future misconduct.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.