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Violation Tracker Individual Record

Company: ITT Technical Institute and PEAKS
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Recap of Ownership Changes:  subscribe to see this data field
Penalty: $330,000,000
Year: 2020
Date: September 15, 2020
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: ITT Technical Institute, a defunct for-profit college, and PEAKS, its holding company, agreed to provide $330 million in loan forgiveness to resolve multistate litigation stemming from allegations of an illegal private student loan scheme that harmed borrowers by misdirecting them towards expensive loans that they struggled to repay.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
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.