When student-loan servicing company Educational Credit Management Corporation revealed it would purchase 56 campuses belonging to embattled for-profit college chain Corinthian Colleges, regulators and consumer advocates began working to ensure that students affected by CCI’s collapse would be protected under the deal. Today, the Consumer Financial Protection Bureau and the U.S. Department of Education announced some students would receive the help they deserve in the way of $480 million in debt relief. [More]
After a spate of controversial reports on the working conditions at Foxconn’s Chinese factories where many of Apple’s products are made, the two companies have announced a cut in hours that will benefit workers. An auditing company hired by Apple and Foxconn has been monitoring the process, and says things are on the way toward improving.