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Actionable news in BPI: BRIDGEPOINT EDUCATION INC,

Bridgepoint Education (BPI) Stock Slides, Ordered to Pay CFPB Settlement

NEW YORK (TheStreet) -- Shares of Bridgepoint Education (BPI) were down on heavy trading volume late-afternoon Monday as the Consumer Financial Protection Bureau (CFPB) said the San Diego-based for-profit college chain must refund students $23.5 million for allegedly misleading them into taking out loans that cost more than advertised.

Bridgepoint, which operates Ashford University and University of the Rockies, neither confirmed nor denied the allegations. The company was also ordered to pay an $8 million civil penalty, according to the Wall Street Journal.

The...


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