Request Legal Help Now - Free


Citibank et al.

This is a settlement for the Antitrust lawsuit.

New York, NY: (Apr-03-07) In a lawsuit that followed as part of New York Attorney General Andrew Cuomo's office' probe into the college loan industry, three dozen schools and Citibank agreed as part of the settlement to make the student loan process fairer to students and their families. The investigations revealed numerous arrangements that benefited schools and lenders at the expense of students were being carried on, including lenders providing all-expenses-paid trips to exotic locations for college financial aid officers who directed students to the lenders. In the settlement agreement, six schools agreed to reimburse students a total of $3.27 million, and Citibank, which does business at about 3,000 schools, agreed to donate $2 million to a national fund created to educate students and parents about the financial aid industry. The University of Pennsylvania will pay $1.62 million to reimburse students. New York University will return $1.39 million, and Syracuse University, Fordham University, Long Island University and St. John's University will pay lesser amounts. [LOS ANGELES TIMES: STUDENT LOAN ANTITRUST]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Apr-6-07


Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free