A Consumer Financial Protection Bureau complaint proposes that Aequitas Capital Management, Inc. and related entities distribute millions in loan forgiveness and reductions to redress Corinthian College students the company issued expensive private loans, allegedly to help the school qualify for federal funding.
The bureau asserts that Aequitas worked with Corinthian in funding loans students could not afford to try to obtain federal aid for the school.
Read on to find out how much the bureau is recommending in redress and other details about the complaint, as well as previous allegations brought against Aequitas and Corinthian.