College of New Rochelle's Financial Struggles Not New

A federal tax lien, a bond-rating drop and sagging enrollment nagged the College of New Rochelle for years before the announcement Tuesday that it's facing what could be the most significant financial crisis in its 112-year history.  Among the struggles in recent years were a federal tax lien imposed by the IRS in 2014, and financial services’ ratings that showed an institution facing imposing debt and little wiggle-room in its budget.