There has been no shortage of lawsuits filed against Wells Fargo in recent years, from accusations the bank pushed mortgages on borrowers who couldn’t repay them to claims the company pressed employees to engage in fraudulent conduct with regard to customer accounts. Now, a recently unsealed whistleblower lawsuit melds together those issues, claiming the bank encouraged employees to withhold information from customers that could potentially lead to foreclosure proceedings. [More]
Federal Funds
Former Wells Fargo Employee Claims Bank Defrauded Government Of $1.4B In Foreclosure Funding
By 5.16.16
Defunct Beauty School Settles Whistleblower Suit Accusing It Of Falsifying Records
By 5.5.16
Two months after abruptly closing its doors as a result of losing access to federal student financial aid, the for-profit Marinello Schools of Beauty has settled a whistleblower case that accused the school of engaging in various schemes to defraud the government of federal financial aid dollars. [More]
AGs Seek Better Protections For Servicemembers Deceived By For-Profit Colleges
By 2.29.16
Federal regulators must do more to protect servicemembers from unscrupulous colleges seeking to get their hands on their education benefits. That’s the message eight states want to get across to the secretary of Veteran Affairs following reports that some for-profit colleges target military personnel using predatory practices. [More]
For-Profit Beauty School Chain Shuts Down Just Days After Losing Federal Funding
By 2.5.16
Just days after losing access to federal student financial aid because it allegedly falsified records and overcharged students, the for-profit Marinello Schools of Beauty has shuttered all of its campuses. [More]
Two For-Profit College Chains Lose Government Funding Over Misrepresentations, Inflated Job Placement Rates
By 2.2.16
If you hear a for-profit college touting its high job-placement rate, you’ve got good reason to be skeptical. Federal regulators have cut of government funding to two more for-profit education chains caught inflating placement stats.
[More]
Aggressive Recruiting At Military Bases Pays Off: For-Profit Schools Received $1.7B Of Post-9/11 GI Bill Funds
By 7.30.14
The Post 9/11 GI Bill aims to further the education of United States servicemembers and their immediate family members, but a new government report reveals that most of those funds are going to further increase the bottomline at for-profit colleges. [More]
