Lender Abuse Is Rampant, Cuomo Tells Congress
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Rampant abuses by lenders have followed a boom in higher-priced college loans not guaranteed by the government and lax federal oversight has made the situation worse, New York’s attorney general said yesterday.
Andrew Cuomo told Congress his office has begun investigating lenders for possible discriminatory practices involving the criteria used for pricing student loans. Such criteria may include where a student lives and what type of college he attends, Mr. Cuomo suggested.
