Less than a year ago, Baylor University was neck deep in a scandal that alleged that it consistently failed to respond to reports of rampant sexual assault. 

Now, under a new President, Baylor has stepped in another controversy. And it's taken swift action.

Over the weekend, the campus chapter of Kappa Sigma hosted a "Mexican"-themed party it called 'Cinco de Drinko.' According to local reports, some who attended dressed as construction workers and maids and chanted "Build that wall."

Baylor quickly launched an investigation, calling the party a "racially insensitive event." And Kappa Sigma suspended the chapter.

The allegations are inconsistent with the values of Kappa Sigma" the fraternity said in a statement emailed to CNN.

On Monday, Baylor students rallied with a list of demands for the university.

They asked for sanctions against the fraternity, a formal apology, mandatory cultural competency education and more diversity.

Last year, Baylor's then-president Ken Starr resigned after the results of an independent investigation showed "fundamental failure" on the university's part to respond adequately to student sex assault allegations.