Inside Higher Ed. May 2, 2014.
ITT Educational Services has filed a court motion to dismiss a complaint the Consumer Financial Protection Bureau (CFPB) lodged against the for-profit chain in February. In its first enforcement action against the sector, the CFPB accused ITT of predatory lending and other abusive practices.
However, the lawsuit filed this week by ITT claims the bureau has overstepped its statutory authority. More broadly, the for-profit claimed the CFPB's enforcement approach lacks due process and is unconstitutional.