Violation Tracker Individual Record

Company: 
PEAKS Trust
Penalty: 
$330,000,000
Year: 
2020
Date: 
September 15, 2020
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

PEAKS, which owned and processed student loans for the now-defunct for-profit college ITT Technical Institute agreed to provide $330 million in loan forgiveness to resolve allegations of unfair practices. The settlement was also announced by state attorneys general (see separarate entry under ITT Technical Institute).

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
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.