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ITT Educational Services, Inc.

On February 26, 2014, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against ITT Educational Services, Inc. (ITT) in the U.S. District Court for the Southern District of Indiana. The complaint alleged that ITT engaged in unfair and abusive practices in connection with its private loan program in violation of the Consumer Financial Protection Act of 2010. The CFPB announced a proposed settlement on August 12, 2019 to resolve the lawsuit.  The terms of the proposed stipulated order include, among other things, a judgment against ITT for $60 million and an injunction prohibiting ITT from offering or providing student loans in the future.

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