August 17, 2017

The CFPB filed a complaint and proposed settlement against Aequitas Capital Management, Inc. and related entities, for aiding the Corinthian Colleges’ predatory lending scheme by enabling Corinthian to make high-cost private loans to students that both Aequitas and Corinthian knew students could not afford. Under the CFPB’s proposed settlement, about 41,000 Corinthian students could be eligible for approximately $183.3 million in loan forgiveness and reduction. CFPB

Tagged in: Financial Institution Fraud,