Corinthian Colleges, Inc. d/b/a Everest College, WyoTech, and Heald College
The Bureau sued for-profit college chain Corinthian Colleges, Inc. for its illegal predatory lending scheme. The Bureau alleges that Corinthian lured tens of thousands of students to take out private loans to cover expensive tuition costs by advertising bogus job prospects and career services. Corinthian then used illegal debt collection tactics to strong-arm students into paying back those loans while still in school.
At the request of the CFPB, a federal court entered a final default judgment against Corinthian Colleges, Inc., resolving a lawsuit filed by the CFPB in September 2014. The court ordered that Corinthian was liable for more than $530 million and prohibited the company from engaging in future misconduct.