LAWSUITS NEWS & LEGAL INFORMATION
Nelnet Inc.
New York, NY: (Jul-31-07) The New York Attorney General Andrew Cuomo's Office filed a lawsuit against Nelnet Inc., a finance company that consolidates student loans. The charges alleged that Nelnet made payments to alumni groups in exchange for getting loan referrals. The lawsuit was part of the investigation of unlawful practices in the $85 billion a year student loan business, spearheaded by Attorney General Andrew Cuomo.
In a settlement reached, Nelnet Inc. agreed to pay $2 million to resolve litigation. Further, as part of the settlement, Nelnet agreed to stop making these payments. Nelnet previously agreed to pay $1 million to settle an investigation by Nebraska's attorney general. [REUTERS: LOAN REFERRALS]
Published on Aug-1-07
In a settlement reached, Nelnet Inc. agreed to pay $2 million to resolve litigation. Further, as part of the settlement, Nelnet agreed to stop making these payments. Nelnet previously agreed to pay $1 million to settle an investigation by Nebraska's attorney general. [REUTERS: LOAN REFERRALS]
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