Violation Tracker Individual Record

Company: 
Corinthian Colleges, Inc.
Current Parent Company: 
Corinthian Colleges, Inc.
Penalty: 
$531,224,267
Primary Offense: 
consumer protection violation
Secondary Offense: 
student loan 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.

Year: 
2015
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
out of business
Major Industry of Parent: 
miscellaneous services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.