U.S. Lawmakers Question Student Lending Practices

Law360, New York (March 30, 2007, 12:00 AM EDT) -- Following the New York State Attorney General’s investigation into the $85 billion student loan industry, a U.S. House of Representatives committee on Thursday requested information from five major lenders regarding their relationships with colleges.

Sallie Mae Corp., Bank of America, Wells Fargo & Co., JP Morgan Chase & Co. and Citibank/The Student Loan Corp. all received letters from Rep. George Miller, D-Calif., chairman of the House Education and Labor Committee, requesting detailed information about their relationships with college financial aid offices.

Miller asked the companies to...
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