Word: cuomo
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...with employees of a lender that is vying for the callers' business? Sallie Mae, the nation's largest student loan company, used to do such things, but apparently no more. The company agreed Wednesday to abide by a code of conduct, devised by New York State attorney general Andrew Cuomo, that prohibits lenders from giving universities "anything of value," including call-center staffing...
...states investigating questionable relationships between colleges and lenders, Citibank this month became the first student loan provider to adopt this code of conduct, which also expressly bans revenue-sharing arrangements in which lenders route a percentage of student-loan revenue back to the schools that steered them the business. Cuomo announced last month his intention to sue Education Finance Partners for paying schools to include it on their list of preferred lenders. Since then, several universities have agreed to adhere to Cuomo's code and also to reimburse students nearly $3.3 million gleaned from revenue-sharing...
...declined to engage in this activity. "No schools are being asked to return money as a result of their relationship with Sallie Mae," the company said in a statement released Wednesday. However, Sallie Mae and Citibank have agreed to contribute $2 million apiece to a new fund administered by Cuomo's office to educate college-bound students about their loan options...
...Stuff I Liked in 2006 By RIVERS CUOMO...
...Rivers Cuomo ’99-’06 is the former frontman of the band Weezer, but more recently a Cabot House celebrity. He was once interviewed by Abe J. Riesman...