In 2016, Bridgepoint Education received a subpoena from the Securities and Exchange Commission related to the potential joint resolution of investigations by the California Attorney General and the Consumer Financial Protection Bureau.In 2016, a former senior vice president at Ashford University alleged that Bridgepoint falsified its financial reports by inaccurately projecting the student retention rate. On September 12, 2016, the Consumer Financial Protection Bureau fined Bridgepoint Education, the parent company of Ashford University, $31.5 million for deceiving students about the cost of private student loans; $23.5 million is supposed to be for relief and refunds to consumers. In 2016, the Iowa Department of Education notified Ashford that it would discontinue approval for GI Bill benefits after June 30.