AG Subpoenas Lenders In Deceptive Marketing Probe

Law360, New York (October 11, 2007, 12:00 AM EDT) -- New York State Attorney General Andrew Cuomo announced Thursday that he has issued subpoenas and document requests to 33 student loan direct marketing companies and lenders, in an effort to expand his ongoing investigation into the $85 billion student loan industry.

Cuomo said the recent subpoenas, which were issued after a lengthy investigation of various direct-to-student loan marketers, seek information about the “misleading and deceptive” tactics allegedly used by companies to market their loans to students. Direct marketing companies usually act as middlemen marketers for lenders,...
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