Jan 6 Corinthian Colleges Inc said on
Monday it received a letter from the U.S. consumer watchdog
related to advertising, marketing or origination of private
Corinthian's shares fell 7 percent in extended trading after
the company said in a regulatory filing that the U.S. Consumer
Financial Protection Bureau was considering legal action against
the for-profit education provider.
The company said it would make a notice and opportunity to
respond and advise (NORA) submission to the CFPB.
"The company ... continues to believe that its acts and
practices relating to student loans - financing that is
essential to preserving our students' access to post-secondary
education - are lawful," Corinthian said. ()
Corinthian's shares were at $1.55 after the bell. They
closed at $1.67 on the Nasdaq on Monday.