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Lambda coding school accused of deceiving students out of thousands of dollars


Lambda coding school accused of deceiving students out of thousands of dollars
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Lambda School, a coding academy, is the target of an arbitration claim in S.F. that lawyers say bilked students of tens of thousands of dollars with deceptive payment practices.Yalonda M. James/The Chronicle
Close to two years ago, Linh Nguyen found what she thought was her ticket to a job in tech when she enrolled in Lambda School, a San Francisco for-profit coding academy which promises students only pay tuition after they get a good-paying job.
Now she has that tech job and an ample salary to match, but with no thanks to Lambda, which allegedly lied about its job placement rates while evading state regulators and provided courses that essentially asked students to teach themselves, according to a legal complaint filed in San Francisco on Thursday. ....

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CA DFPI exercises its new enforcement authority against coding school's income-based deferred tuition agreement | Ballard Spahr LLP


The California Department of Financial Protection and Innovation
a consent order with Lambda, Inc., which does business as Lambda School, to settle the DFPI’s claims that a provision in Lambda’s student financing contracts was misleading.  The consent order also resolves the DFPI’s claim that Lambda’s marketing materials were misleading.  The DFPI’s claims were brought under the new
California Consumer Financial Protection Law, which took effect on January 1, 2021 and prohibits providers of financial products and services from engaging in unfair, deceptive, or abusive acts or practices.
According to the consent order, Lambda offers California students the option of financing the cost of attending its online computer coding school through a contract in which the student agrees to pay Lambda a percentage of the student’s future income up to a specified amount (Contract).  (Lambda offers California students the option to defer tuition through ....

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