ITT’s CUSO Hit Hard in Settlement
Students at ITT Technical Institute were allegedly induced in an unfair way to take out loans by a variety of means and were not provided information to help them understand the terms and conditions of the CUSO loans. CFPB has proposed that Student CU Connect CUSO stop collecting on all outstanding loans, discharge the outstanding loans, and ask credit reporting agencies to delete tradelines relating to the CUSO loans. Total amount of loan forgiveness: $168 million. [6/17/19]