FTC Eyes Student Loan Industry

Law360, New York (May 31, 2007, 12:00 AM EDT) -- Following the lead of several state attorneys general, the U.S. Federal Trade Commission said Thursday that it is investigating allegations of cozy, anti-competitive relationships between universities and lenders in the U.S. student loan industry.

The probe was revealed in a May 31 letter sent by FTC Chairman Deborah Platt Majoras to U.S. Rep. George Miller (D-Calif.), the chairman of the House Education and Labor Committee.

Miller had called for the FTC to launch the investigation earlier in May after coming across examples of lenders’ unfair and...
To view the full article, register now.