ITT Facing Federal Lawsuit

There's trouble for Indiana's ITT Educational Services. The Carmel-based education company is facing several challenges, including a federal lawsuit. The suit alleges that ITT used predatory lending practices. The company is now working with federal regulators.  This comes as the company's stock price is dropping.  A similar crackdown forced a California for-profit college out of business.  The feds are working  to enact new regulations to protect students at for-profit colleges from incurring large amounts of loan debt. ITT has a Fort Wayne branch.