New Owner Agrees to Strong Consumer Protections, Will Cease Private Student Lending
WASHINGTON, D.C. —(ENEWSPF)—February 3, 2015. Today, the Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Education announced more than $480 million in forgiveness for borrowers who took out Corinthian College’s high-cost private student loans. ECMC Group, the new owner of a number of Corinthian schools, will not operate a private student loan program for seven years and agreed to a series…
