More than two years after an investigative report alleged that laminate flooring sold at Lumber Liquidators contained high — and potentially dangerous — levels of formaldehyde, the flooring retailer has agreed to pay $36 million to close the books on class-action lawsuits brought by customers. [More]
closing a chapter
Feds Win Default Judgment Against Corinthian Colleges Over Predatory Lending Scheme
In September 2014, just seven months before Everest University, WyoTech and Heald College closed their doors, federal regulators sued the for-profit colleges’ parent company Corinthian Colleges Inc claiming it duped thousands of students into taking out costly, predatory, and often financially devastating, private student loans to finance their post-secondary education. This week, the Consumer Financial Protection Bureau won a default judgment against the for-profit educator for engaging in a predatory lending scheme. [More]