New York Attorney General Eric T. Schneiderman has filed a lawsuit and obtained a temporary restraining order against The College Network, an Indianapolis-based study guide preparation firm, and its owner Gary Eyler, alleging false and deceptive business practices that have cost nursing students tens of thousands of dollars for largely worthless study materials.

The attorney general named as co-defendant in the suit is the $453 million Southeast Financial Credit Union, based in Franklin, Tenn., which partnered with The College Network to provide student loans. American Credit Exchange, a debt collection agency also owned by Eyler, was also named in the suit.

A statement prepared by the attorney general's office announcing the June 4 suit alleges that as many as 2,000 New York consumers seeking associate degrees in nursing were victimized by the firm. The suit charges that, through advertising and high-pressure sales tactics, The College Network created the false impression that it was offering online nursing degrees, and that it was affiliated with Excelsior College, an accredited institution based in Albany, N.Y., that offers such degrees.

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